888.com sale rumours surface again

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MORE 888.COM SALE RUMOURS

Negotiations have been ongoing for the past month claim sources

The persistent rumours that giant British betting group Ladbrokes is intent on buying online gambling group 888.com surfaced again as the week ended, with the Daily Mail newspaper predicting that the former would clinch a GBP 490 million on the sale as early as next week.

The two firms have been in talks for more than a month, the newspaper said, citing a source close to the situation. It said the takeover offer for 888 was expected to be pitched at between 140 pence and 145 pence a share.

On November 5, (see previous xxxxxx reports) Ladbrokes said it was considering a possible bid for 888, as the online sector consolidates after a U.S. ban on Internet-based gambling financial transactions.

Neither company had commented as xxxxxx went to press.