Betfair shares dive on decision over Germany

Shares in FTSE 250 betting group Betfair have taken a dive after the company revealed its plans to withdraw its exchange product from the German market.

Shares in FTSE 250 betting group Betfair have taken a dive after the company revealed its plans to withdraw its exchange product from the German market.

The decision was made after tax authorities failed to agree to an interpretation of the new law in Germany that applies a 5% tax on stakes on sports betting in the country.

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