Centerbridge and Deutsche Telekom to bid for betting firm Tipico: Reuters

(Reuters) Buyout group Centerbridge has joined up with Deutsche Telekom to bid for Tipico as an auction of Germany’s largest private sports betting group nears an end, two people familiar with the matter said. Centerbridge would buy the majority of Tipico, which is being sold by its founders, they said. The planned offer may value Tipico at about 1 billion euros ($1.1 billion), or roughly 9 times its expected core earnings, one of the people said.

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