Bwin in Takeover Talks with Sportingbet

7 March 2007

Sportingbet has confirmed media reports hinting at a possible takeover bid from bwin, which this morning said it was in "very preliminary discussions" with the London-listed operator.

"We don't exclude the possibility of purchases," bwin spokesman Konrad Sveceny told Bloomberg, saying moreover that the company expected "consolidation in the European market."

In a concise prepared statement issued today, bwin said its interest lay in the "acquisition of [Sportingbet's] entire issued share capital" and acknowledged negotiations "may or may not lead to a deal."

Shares in Sportingbet today closed up 7.75p (15.12 percent) at 59.00, while stock in Vienna-listed bwin jumped 2.29 euros (8.48 percent) on news of the takeover talks.