In the News

Sky sells majority stake in Sky Bet

Geoff Riley

5th December 2014

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Here is a revealing example of a business divesting an operation that is not seen as part of their core activities going forward. Sky is selling SkyBet to a private equity group CVC Capital Partners, in part as a way of raising money to pay off some of their existing debts. CVC owns Formula One. Sky retains a minority stake and has a brand licence agreement in place ... so the ties have not been completely severed. And why should they - the business is profitable with pre tax profits of a million pounds a week!

Read: http://www.bbc.co.uk/news/business-30324770

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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Sky sells majority stake in Sky Bet

Geoff Riley

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