This is Branson’s third attempt to own a piece of the lottery pie. In 1994, his rival People’s Lottery failed to win the contract. Then, in 2000 he again failed to win the lottery licence from Camelot. Camelot is a lucrative investment for the Virgin Boss. It generates annual sales of about £5bn and is expected to be valued at more than £450m, creating a £90m windfall to each of the selling shareholders. Cadbury, banknote printer De La Rue, Japanese technology firm Fujitsu Services, and French aerospace firm Thales Electronics are exiting their investment. Royal Mail, the fifth investor, will retain its 20 per cent stake. The new Camelot license will run for ten years. The sale is likely to take place in two stages. Branson will no doubt hope to win his shares in the first wave, within the next fortnight.Real Business will keep you posted. Related articlesAfraid of flying? Richard Branson can helpRichard Branson is Britain’s top entrepreneurRichard Branson’s tips for business success Picture source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.