Cadbury, Thales plan to sell Camelot stakes

LONDON (Reuters) - Cadbury (CBRY.L) and Thales (TCFP.PA), two of the five shareholders in the National Lottery operator Camelot, plan to divest their stakes in the group, the Sunday Telegraph newspaper reported.

The move would mark the biggest shake-up in Camelot's ownership since its launch nearly 15 years ago.

The paper said the British confectionery maker and French defence electronics group had signalled the potential disposals to their fellow investors and the board of Camelot.

A Cadbury spokesman declined to comment, while officials at Thales were not immediately available.

Camelot's remaining shareholders Royal Mail, Fujitsu Ltd (6702.T) and De La Rue Plc (DLAR.L) are keen to retain their stakes in the business, which analysts estimate to be worth between 600 million and 800 million pounds ($1.2-1.6 billion) in its entirety, the Sunday Telegraph said.

Cadbury's decision to sell follows the recent demerger of its U.S. soft drinks business and a desire to "tidy up" its portfolio of interests, while Thales does not view Camelot as core to its business.

Camelot's current licence to run the National Lottery will expire in nine months time. Its third licence period, lasting for a minimum of 10 years, will begin next February.

Each of Camelot's shareholders own 20 percent of the business and has pre-emption rights to buy the others' stakes.

(Reporting by Ben Hirschler; Editing by Jason Neely)