Davies commentary suggests Betfair rift

Mark Davies, a founder of Betfair and its former managing director, has left the betting exchange to run his own communications business. But was the parting entirely amicable?
On his blog, Davies - the son of BBC football commentator Barry - reports: "It's Betfair's 10th anniversary party tonight at the HAC in the City - what I suspect will be a fabulous event given the hard work that I know has gone into it from the events team. Many Betfairians have sent me notes asking if they will see me there, but disappointingly, the answer is no: sadly my ten years as an employee fell a week short of the official celebration, so I'm no longer invited. Lucky people who joined the company this week and can attend after five days' service!" Ouch.

How flotations work...

"The great vampire squid, Goldman Sachs, has been appointed to handle [Betfair's] £1.5bn listing." SlackBelly, October 19, 2009.

"Speculation about a flotation comes up regularly. But we are not about to appoint an adviser." Mark Davies, managing director of Betfair, tells the Evening Standard, November 30, 2009.

"Betfair has selected two investment banks, Goldman Sachs and Morgan Stanley, to advise it on a £1.5 billion stock-market flotation." Sunday Times January 24, 2010.

Team sheets omitted from Davies commentary

Mark Davies - managing director of betting exchange Betfair and son of footy commentator Barry - dismisses stories that the company has just appointed Rothschild to advise on a flotation.
“It's just not true,” Davies insists to the Evening Standard's City Spy column. “Speculation about a flotation comes up regularly. But we are not about to appoint an adviser.”
The freesheet seems sceptical about that response - and so it should be. What Davies fails to mention is that Goldman Sachs has already been asked by the betting group to handle the £1.5bn listing, while Credit Suisse has also been handed a spot in the starting XI.