29th of August 2011 Author: Johnny Karp
Solution to major obstacles in sight
According to the latest reports from reputable online gambling provider Ladbrokes, the deal on the takeover of online betting group Sportingbet may be closed as soon as in September, as the companies are quite near to ironing out the main obstacles to the realization of the deal, including the consideration.
And the deal may turn out to be a rather lucrative one, considering that Sportingbet is about to see its own acquisition of Australian online betting operator Centrebet finalized, thus becoming the biggest operator in Australia.
Prior to this, the negotiations of acquisition between Ladbrokes and 888 Holdings have failed, reportedly over price issues, which Ladbrokes chief Richard Glynn is determined not to see happen again.
Another obstacle that may need to be attended to is Sportingbet's troublesome Turkish market interest, which it is trying to transfer it to the Isle of Man-based Gaming VC online gambling group.
As for the price tag question, it has been reported that Sportingbet is asking for a higher price than it is currently valued (GBP264 million).
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