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Fred Done to reach a deal to sell 25% stake in Tote in weeks

This topic has 1 reply, 2 voices, and was last updated 8 years, 1 month ago by Steeplechasing.

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February 24, 2018 at 14:35 #1343799
steveh31
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Betfred’s Fred Done will sell 25% of the Tote to a consortium of racing industry figures.
https://news.sky.com/story/betfred-tycoon-in-secret-talks-to-sell-tote-stake-11264936
February 24, 2018 at 15:27 #1343823
Steeplechasing
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Buyers must be dreamers here. How the Tote gets a valuation of £125m to £150m when, come July, it effectively doesn’t have a business (assuming no retail shops involved in the sale) is beyond me.
I’ll be astonished if they can raise the necessary funds
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