bwin acquisition of SportingBet falls through
Sportingbet Plc has announced that discussions with bwin Interactive Entertainment AG regarding a possible acquisition of Sportingbet have been mutually and amicably discontinued.
The Board of Sportingbet Plc announced in March that they were in discussions with bwin regarding an acquisition of Sportingbet. The announcement at the time caused the online gaming company’s shares to rally, pushing Sportingbet’s market capitalisation to over £261.0 million.
‘Both parties decided to terminate the discussion. As a result of regulatory and legal changes in a number of markets in which both BWIN and Sportingbet operate, and not just ones with European Union borders, we have not been able to agree on terms,’ said Konrad Sveceny, head of Investor Relations at BWIN.
Following today’s announcement, shares of Sportingbet Plc (LSE:SBT) had fallen 8.94% to 53.50 pence by 10.15 GMT. Shares of bwin Interactive Entertainment AG were down 0.5% to €23.98.
SportingOdds.com, an online sportsbook owned by SportingBet has just completed a make over.
SportingOdds’ In Play Betting looks fantastic but just finding and placing bets has also improved considerably.
Well done guys!
>>GO TO SportingOdds.com
>>READ review on Sporting Odds Bookmaker
Add comment July 4th, 2007