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Paddy Power Betfair merger spurs ‘record’ share

2016-01-16 13:13:52

Today the merger of Paddy Power and Betfair will take effect. Yesterday, the first signs of how significant this merger is, manifested itself in investors rushing to the Irish Stock Exchange. The business, which will be known as Paddy Power Betfair, will be the biggest listed online betting and gambling company.

Traders expected heavy interest in shares but miscalculated the demand by several million shares. The expected interest of 3.8 million shares was surpassed by several million.

Paddy Power shares gained in value by almost 4 %, closing at €142.75 on the last day trading under that name. Paddy Power shares will trade under the new entity on the Irish Stock Exchange and the London Stock Exchange.