Betfair set float price

[Euler]

Rumours on the street is that board didn't like CVC / Koch's plan to re-invigorate the exchange side of the business.

[herbie]

Euler Discussion terminated, looks like I was right to sell into the market.

Looks like its time to get out, would you agree?...even if its a little late...first time holding shares but can still get out for profit....any advice please?

[Euler]

I doubt there will be a another bid, so I would sell.

I guess the price will hold around this level and then drift about a bit, but will ultimately take it's lead from the next trading update.

[herbie]

thanks Euler will do, but I will keep a few shars to attend the next AGM

[Euler]

Was just speaking to somebody else about this. There is an old market saying, buy the rumour sell the fact. Nice phrase to remember for moments like this.

[herbie]

thanks.. Its a great way to learn quickly about trading shares and take over bids when you buy into the market..

[andyfuller]

Rumours on the street is that board didn't like CVC / Koch's plan to re-invigorate the exchange side of the business.

Dominic Walsh of The Times tweeted earlier today:

"On Betfair, I hear price not really an issue, more that management didn't buy into Koch's radical plan to focus on big exchange customers"

Wonder what is meant by that?

[jimrobo]

I'm sure it was documented somewhere....or at least I read somewhere that koch was more of an exchange purist and would be likely to take the company back to the initial model and concentrate on growing the exchange. Would have been a lot better for traders IMHO.

[Euler]

Mark Davis viewpoint on the failed bid for Betfair: -

http://www.markxdavies.com/2013/05/14/f ... s-welcome/

[steven1976]

It's an interesting post in reply to the article by I presume a market maker talking about liquidity, effect of PC and how bf could solve the liquidity problem on the weaker markets.

[andyfuller]

Can't say I agree about his/her point that winning customers should pay for a market to be seeded. Some other points I do agree with though.

[steven1976]

There are some good points but it sounds a bit spiteful that they expect special privileges. At the end of the day the market makers put the money into the market to make money. I think his comments on the linked accounts offer an insight into how they make their money. If it's to much hassle for him to seed a market then there is an easy solution.

[andyfuller]

New use for Flutter.com from Peter's blog:

http://www.betangel.com/blog_wp/2013/05 ... utter-com/

BTW, always wondered why there isn't a section on the forum to discuss Peter's Blog Postings. They could often be the source of debate/discussion I feel.

[steven1976]

I read somewhere that bfn said they should get a licence for California (I think) in the very near future. I'm not sure if that is old or new news?

[Euler]

Old news. I popped in to see them in California when I was over there a couple of years ago and it was supposed to happen a few months later. It seems that it's always just around the corner. But having seen the terms I wouldn't get excited about it unless there has been a bit rethink.