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Investors who followed our ‘buy’ tip on Paysafe (PAYS) six years ago would now be sitting on a 942% paper profit, thanks to a £2.96bn takeover offer by Blackstone and CVC.
We said to buy the shares at 56.6p in December 2011 when the business had just changed its name from Neovia Financial to Optimal Payments.
At the time we noted how the group traded on a tiny fraction of the typical earnings multiples for takeovers in the payments sector, saying its cheap valuation was a key reason to buy.
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