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Douglas company in multi-billion takeover bid

A Manx-based online payment processor could be taken over for as much as £3 billion.

Paysafe, which is based in Victoria Street in Douglas, has been targeted by two private equity companies.

The firms, CVC and Blackstone, have until the middle of August to make their bid.

Paysafe offers digital wallet services, and is listed on the FTSE 250 index in London - last year is reported annual revenues of $1 billion.

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