Ladbrokes and Sportingbet in Negotiations

First takeover step made

It has been reported this week that UK's online and land gambling giant Ladbrokes has made a preliminary takeover approach for rival Sportingbet, causing a 12 percent boost to the competitor's share price.

Namely, it has been specified by Sportingbet: "Further to recent press speculation, the board of Sportingbet announces that it has received a highly preliminary approach from Ladbrokes plc, which may or may not lead to an offer being made to purchase the entire issued and to be issued share capital of the company."

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