Private equity firm CVC Capital has entered into talks with other potential investors surrounding a bid for the takeover of Betfair.

The private equity firm released a statement today describing how it had entered into talks surrounding the acquisition of the betting firm.

CVC which owns Formula One are looking at the potential of the betting company, with discussions being held between investors Richard Koch who already holds a stake in Betfair, and Antony Ball.

CVC said that: "it has had preliminary discussions with Richard Koch, Antony Ball and partners regarding options in respect of Betfair, which could include an offer for Betfair by funds advised by CVC together with Richard Koch, Antony Ball and partners."

Betfair’s shares rose by 14 percent in response to the announcement.

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