Betfair suitor lowers stake

Marion Dakers
RICHARD Koch, the businessman who gave up on an attempt to take over Betfair in May, yesterday sold around 1m shares in the firm to take his stake down to just 2.77 per cent.

Koch, who held six per cent as recently as August, had teamed up with CVC and Antony Ball of investment group Brait to make a play for Betfair earlier in the year, but threw in the towel after failing to agree terms with the firm’s board.

Shares in Betfair closed up 1.5 per cent at 1,000p.