Update: Paddy Power Gets Approval from Australia Treasurer to Buy Off Sportsbet

Now all up to shareholders A new development has emerged on the Australian market this week, where the Treasurer of the Commonwealth of Australia, connected with the Australian Foreign Investment Review Board, granted an approval to Irish bookmaker Paddy Power plc to purchase the remaining 39.2 percent minority shareholding in Sportsbet Pty Ltd. Now it is all in the hands of Paddy Power's shareholders, as they now need to give their approval at an extraordinary general meeting on 22 February 2011.