Betty Power and the €7 billion bet

The proposed marriage of Paddy Power and Betfair has sent shockwaves through the industry, from employees fearing synergies to competitors who will face an even more formidable rival

30th August, 2015
A member of staff replenishes betting slips at a Paddy Power bookmakers shop. Picture: Bloomberg

On Wednesday morning, journalists and photographers streamed into the Paddy Power HQ, through the lobby, past the glass case displaying the famous lucky green Y-Fronts and the Paddy Power armoured tank, upstairs to a windowless room with good pastries and bad coffee.

In breezed chief executive Andy McCue, impeccably groomed and slight, making his accompanying finance chief Cormac McCarthy look like his bodyguard.

On the face of it, McCue was there to take the assembled...

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