Betfair May Defer IPO Plans Until After 2006 World Cup, FT Says - Monday 17th of October 2005

Betfair, the worlds biggest Internet betting exchange, may defer plans to hold an initial public offering this year, the Financial Times said, without saying where it got the information.

Betfair, which earlier this year hired Goldman Sachs Group Inc. and Morgan Stanley as financial advisers, may wait until after the soccer World Cup in 2006 before selling shares, the FT said.

The U.K. online betting exchange, which was founded by Andrew Black and Edward Wray in 1999, matches wagers between bettors over the Internet and by phone, unlike bookmakers that set their own prices.

The World Cup in Germany may be the biggest betting event in the history of Internet gambling, the FT said.

Betfair declined to comment, the FT said.

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