Betfair appoints advisers for IPO - papers - Tuesday 12th of July 2005

Betfair has appointed Morgan Stanley and Goldman Sachs as financial advisers for a flotation which could value the betting exchange group at up to 800 million pounds, newspapers said on Saturday.

The Daily Telegraph, without citing sources, said Betfair was aiming for an initial public offering in early 2006.

The Independent, also without citing sources, said the flotation was likely to be worth nearer 700 million pounds.

Betfair, Morgan Stanley and Goldman Sachs could not immediately be reached for comment.

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