 Don't bet on a Coral float yet |
Betting firm Coral has dismissed newspaper reports that the group is about to float on the stock market. A spokesman for the group dubbed the press claims "pure speculation".
A board meeting last week discussed the timing of an initial public offering to capitalise on growing City enthusiasm for gambling stocks, one report said.
The Observer said that a float could value the business - currently owned by venture capital firm Charterhouse Development Capital - at �1.3bn.
Good odds?
A float at this price would represent a handsome return for the firm's venture capitalist owners, who bought the business for �860m nearly two years ago.
The group, which was founded in 1926, operates under the Coral brand in the UK.
It offers telephone betting, online casinos and poker in addition to its chain of betting shops. It also owns two greyhound stadiums.
Overseas, it is known as Eurobet and people in 100 different countries access its online betting and gaming operations.
One-Minute World News 
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