In the News
Sky sells majority stake in Sky Bet
5th December 2014
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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