(Reuters) – Fox Corp stated on Tuesday that it had filed a lawsuit towards Flutter Leisure associated to exercising its possibility to purchase an 18.6% stake in US sports activities betting agency FanDuel Group.
CNBC reported that Fox’s stake in FanDuel must pay the identical value as Flutter had paid in December, whereas the latter has argued that Fox must pay “honest market worth” in July to go for Will occur.
Flutter didn’t instantly reply to Reuters’ request for remark.
Sputter, proprietor of Paddy Energy Betfair, which merged its US enterprise with FanDuel in 2018, elevated its FanDuel by 95% in December in a $ 4.18 billion deal.
In July this yr, providing an possibility to purchase 18.6% of FanDuel, Flutter took Fox’s assist to get the deal.
(Reporting of Munsif Vengtil in Bengaluru; Modifying by Vinay Dwivedi)