Betfair considering massive payout to shareholders

Gambling website Betfair was today said to be mulling a £140m (€166.2m) payout to shareholders as part of its defence against a hostile takeover.

It has already rejected a bid proposal from CVC Capital Partners, which is the buyout group behind Formula 1 motor racing, on the grounds that the £910m (€1.08bn) approach undervalued its business and prospects.