Investors in Flutter Entertainment, the FTSE 100 gambling group, are poised to discover the outcome of a year-long legal dispute with Rupert Murdoch’s Fox Corporation over the value of FanDuel, the American sports betting platform
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City sources said Flutter was expected to announce the outcome late on Friday evening, with one shareholder in the London-listed company suggesting they were confident of a positive outcome for the group. Flutter, which owns brands such as Paddy Power and Betfair, has argued that that valuation - roughly $11bn - is barely half the fair valuation that Fox should now be obliged to pay.
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