Camelot shares to be sold? (From Watford Observer)

Camelot shares to be sold?

4:16pm Monday 20th April 2009 in News By John Harrison

The ownership of Watford-based lottery operator Camelot is reported to be up for sale.

Reports is several of today's national newspapers suggest four of Camelot's original five shareholders – money printer De La Rue, Japanese IT firm Fuijitsu, confectioners Cadbury, and French defence group Thales – are all considering their positions.

The fifth stakeholder, Royal Mail, is not understood to be considering a sale in the National Lottery operator.

Earlier today, De La Rue today told the stock market that "it is considering a review of its options in relation to its shareholding in Camelot and will only pursue any outcomes that fully reflect the value of its investment in Camelot".

The news means 80 per cent of the company could be sold this summer.

Camelot, which is based in Tolpits Lane, won an eight-year licence to run the National Lottery in 1993. The licence was then renewed in 2001 and at the beginning of this year it was awarded a 10-year licence with an option to extend it by another five years.

The news is likely to worry staff, after reports last month that Camelot wanted to axe around 250 jobs out of a total staff of 880 to cut costs.

The Government is also reported to be monitoring the proposed sale, as Camelot has committed £2.2b towards the 2012 Olympics in London.

Any sale must first be approved by regulators.

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