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FLTR Flutter Entertainment Plc

16,110.00
405.00 (2.58%)
Last Updated: 10:25:05
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Flutter Entertainment Plc LSE:FLTR London Ordinary Share IE00BWT6H894 ORD EUR0.09 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  405.00 2.58% 16,110.00 16,105.00 16,115.00 16,180.00 16,015.00 16,135.00 74,449 10:25:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Amusement & Rec Svcs, Nec 11.79B -1.22B -6.9036 -23.28 28.45B

Flutter Entertainment PLC Update re: FOX arbitration process (6475U)

07/04/2021 8:26am

UK Regulatory


Flutter Entertainment (LSE:FLTR)
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RNS Number : 6475U

Flutter Entertainment PLC

07 April 2021

Flutter Entertainment plc ("Flutter")

Update re: FOX arbitration process

Flutter notes the statement made by FOX Corporation with respect to a legal dispute between the two parties in relation to an option to acquire an 18.6% stake in FanDuel. Under the terms of Flutter's agreement with FOX Corporation, an arbitration mechanism was put in place at the time of The Stars Group merger announcement to be conducted in the event of a disagreement between the two parties relating to the option. That now being the case, such a process has been initiated by FOX.

FOX's position that it has a right to acquire an 18.6% interest in FanDuel based on an $11.2 billion valuation is incorrect. It would represent a windfall to FOX compared to the fair market valuation as of July 2021, to which the parties had previously agreed. Flutter will not allow FOX's filing, which is without merit, to distract from its business and will vigorously defend its position in the arbitration.

The Group will update the market as appropriate.

Contacts:

 
 Investor Relations: 
 David Jennings, Group Director of Investor 
  Relations & FP&A                             + 353 87 951 3560 
 Ciara O'Mullane, Investor Relations           + 353 87 947 7862 
 Liam Kealy, Investor Relations                + 353 87 665 2014 
 Press: 
 Fi Thorne, Corporate Affairs                  + 44 75 2111 4787 
  Lindsay Dunford, Corporate Affairs            + 44 79 3197 2959 
 Billy Murphy, Drury / Porter Novelli          + 353 1 260 5000 
 James Murgatroyd, Finsbury                    + 44 20 7251 3801 
 

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END

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(END) Dow Jones Newswires

April 07, 2021 03:26 ET (07:26 GMT)

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