Fox takes legal action to lower price of stake it may buy in betting firm FanDuel

Rupert Murdoch’s corporation says it should be allowed to buy a stake at the same price Flutter paid last year

Rupert Murdoch’s Fox has launched legal action against Flutter, the London-listed parent of gambling brands including Paddy Power and Betfair, in a dispute over the value of the company’s stake in the US betting firm FanDuel.

Flutter Entertainment, which merged its US business with FanDuel three years ago, raised its stake in the fast-growing sports betting firm in December in a move that gave the business a valuation of $11.2bn (£8.1bn).

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