Camelot Stake Sale to Virgin?
25/09/2009 10:04:39
World Lottery News has learned that Virgin Media could be emerging as one of the leading contenders to buy a controlling stake in Camelot, the UK's National Lottery operator. Richard Branson, founder of Virgin, was one of the leading bidders for the second lottery licence under the banner of “The people’s lottery”. He didn’t get his way that time and famously sulked on the steps outside the announcement building. Now Virgin could be stepping into the limelight once more and stealing a march on its gaming rivals by acquiring a controlling stake in the lottery operator.
Four of Camelot’s five shareholders, including De La Rue, the banknote printer, Cadbury Schweppes, Fujitsu Services (formerly ICL) and Thales Electronics are keen to sell their stakes in the company, leaving just the UK’s Royal Mail as the only original shareholder. The controlling 80% stake that is up for sale, World Lottery News are informed, will be auctioned off in September or early November by Rothschild and Greenhill.
When World Lottery News called to speak to the Virgin boss, his advisors indicated that no decision had yet been made on wether to bid or not, but added that "the documents are being studied carefully".
Watch this space
Written by Lucy Lotto
Page Last Updated: 23/06/2010 11:54:48
