Tuesday 17 January 2017

Paddy Power backers sell off shares

Published 04/09/2011 | 05:00

BOOSTED by marketing power of footballer mistress Imogen Thomas's bum, Paddy Power reported massive increases in profits last week.

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Shares soared and two key backers of the €1.5bn-valued Paddy Power offloaded more than €7.5m worth of shares.

David Power, the largest individual shareholder, sold €2.4m worth of shares, while former operations head Jim Mangan offloaded 150,000 shares valued at around €5.1m. Power still has a near 8 per cent stake worth about €140m, with Mangan holding shares worth €15.3m.

Paddy Power signed up Thomas in a promotional deal after details of her tryst with Manchester United's Ryan Giggs emerged over the summer.

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