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888 shares leap as Ladbrokes considers approach



Printer Friendly VersionPost a CommentTell a Friend about this Article06 November 2006
As reported by: Reuters
Shares in online gaming group 888 Holdings Plc (888.L: Quote, Profile, Research) leapt more than 8 percent on Monday, boosted by news on Sunday that UK bookmaker Ladbrokes Plc (LAD.L: Quote, Profile, Research) is considering a possible bid.

The British online gaming sector is consolidating fast in the wake of a U.S. ban on Internet-based gambling.

By 0725 GMT shares in 888, which operates Web sites 888.com, Casino-on-Net.com and PacificPoker.com, were up 8.6 percent at 120p, valuing the group at more than 400 million pounds ($763 million).

A spokesman for Ladbrokes told Reuters on Sunday that his company was in the early stages of reviewing a possible transaction involving 888.
However, Ladbrokes said no decision had yet been made about whether a proposal would be made.

888 has declined to comment on the Ladbrokes statement, but reiterated its statement last Monday that it was in talks about a potential tie-up with a number of third parties.


Article By: Reuters

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