Tuesday August 16,2011 : GVC CONFIRMS TALKS WITH SPORTINGBET
Possible sale of Sportingbet's Turkish operations on the agenda
The Isle of Man-based online gambling operator GVC Holdings has confirmed media speculation that it is in talks with Sportingbet plc regarding the possible purchase of the latter's Turkish online gambling operation.
In a statement released this week, GVC management advised the market:
"The Board of GVC Holdings PLC (AIM:GVC)…..notes the recent press speculation and announces that it is in exclusive discussions with Sportingbet plc regarding the possible purchase of the latter's Turkish language website business. Such a transaction, if completed, would constitute a Reverse Takeover under the AIM Rules. In accordance with the AIM Rules, trading in the company's ordinary shares will be suspended from 7.45 a.m. this morning [August 16], pending publication of a re-admission document.
"These discussions are at a preliminary stage and there can be no certainty that they will be concluded successfully. A further announcement will be made in due course."