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Sky Sells Gambling Division

Sky has sold a controlling stake in its gambling website Sky Bet to a private equity firm, in a deal that values the business at £800m and allows the pay-TV group to focus on its newly expanded pan-European operation. CVC Capital Partners will acquire an 80% stake in the Web site for £600m, with Sky retaining a 20% stake and a seat on the board of the business. Both companies will also invest additional equity.

Read the whole story at The Guardian »

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