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GVC deal on the cards?

Tuesday, 16 August 2011 14:05

Manx-based e-gaming firm GVC Holdings says it’s holding talks to buy Sportingbet’s Turkish website business.

Sportingbet serves more than two million customers in 30 countries and the possible sale of its Turkish business would clear the way for a takeover by UK bookmaker Ladbrokes.

In a statement to the London Stock Exchange, GVC Holdings said it was in exclusive discussions regarding the deal.

GVC says if the deal goes ahead it would constitute a reverse takeover under the Alternative Investments Market rules.

Sportingbet’s most recent figures show its Turkish business earned £19.6 million in revenues.

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