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Richard Branson may bid for national lottery

Source: The Guardian

Nov 08, 2009

Summary

• 80% of Camelot consortium up for sale
• Third attempt for the People's Lottery

Richard Branson and a number of private equity firms are among potential bidders jostling to buy the 80% of national lottery operator Camelot that has been put up for sale – nine years after the entrepreneur's outfit, the People's Lottery, last failed to win the contract.

Camelot investors Cadbury, banknote printer De La Rue, Japanese information technology firm Fujitsu Services, and Thales Electronics, the French aerospace group, have appointed the City banks Rothschild and Greenhill to run the sale. The fifth Camelot investor, Royal Mail, plans to keep its 20% stake as its alliance with Camelot is more strategic, – Camelot operates some of its sites at post offices.

"Camelot recently started its new 10 year-licence and it's an appropriate time for investors to approach the market," a source close to the sale said.

Richard Branson's Virgin Group, Camelot and the two banks declined to comment.

For Branson, it would be a backdoor route to running the lottery after two previous attempts

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