Betfair has fallen more than 4% on talk of a placing of a major stake in the online betting business.
Traders said that 11m shares, or 10.57%, was being sold on behalf of Softbank, with Goldman Sachs reportedly paying 809p each. Betfair has dropped 38p to 841.5p.
Update
It appears the shares were placed with institutional investors at 827p each, following a week of City meetings with the company.
