Matthew Lewis | Getty Images
Pay-TV group Sky
said on Thursday it had agreed to sell a controlling stake in Sky Bet
to CVC Capital Partners CVC.UL in a move which values the online betting
business at 800 million pounds.
Sky, which operates in Britain, Italy, Germany, Austria and Ireland, said it would receive 600 million pounds in cash at completion and would retain a stake of around 20 percent in Sky Bet.
Read MoreMurdoch nets cash for Fox through 'Sky Europe' deal
It could also receive extra funds based on CVC receiving a certain return on its investment.
Sky, which operates in Britain, Italy, Germany, Austria and Ireland, said it would receive 600 million pounds in cash at completion and would retain a stake of around 20 percent in Sky Bet.
Read MoreMurdoch nets cash for Fox through 'Sky Europe' deal
It could also receive extra funds based on CVC receiving a certain return on its investment.
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