Betfair Considers $2.5 Billion IPO

(Bloomberg) -- Betfair Ltd. is considering a 1.5 billion-pound ($2.5 billion) initial public offering, the Sunday Telegraph reported, without citing anyone.

Founders Andrew Black and Edward Wray, who will meet banking advisers over the coming weeks, reconsidered their position on a potential IPO following continued strength in global equity markets, the newspaper said. Betfair declined to comment, according to the Sunday Telegraph.

"It's just speculation at the moment," the company spokesman Mark Davies told Bloomberg News. Chief Executive Officer David Yu told reporters on Aug. 5 that Betfair had "no plans at the moment" for an IPO.