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I thought 888 was a sitting duck ,but ladbrokes are taking their time

Ladbrokes says bid talks with 888 continue


LONDON (AFX) - UK bookmaker Ladbrokes PLC said it is continuing discussions
with 888 Holdings PLC over a possible takeover of the troubled online gaming
group but declined to confirm a press report claiming the pair are finalising a
490 mln stg deal.
"We're still in discussions with 888 and no decision has been made at the
moment," said a Ladbrokes spokesman.
The Daily Mail newspaper, quoting a source close to the situation, today
reported the companies could strike a deal -- valuing 888 at anywhere between
140 pence and 145 pence a share -- as early as next week.
At 11.48 am, 888 shares were up 2.5 pct at 132 pence, while Ladbrokes shares
were up nearly 1 pct at 405.50 pence.
Ladbrokes last month said it is in the "early stages" of negotiations with
888, gatecrashing merger talks between the online betting group and rival
PartyGaming PLC.
888 confirmed in October it entered into preliminary discussions with
unnamed parties following the suspension of its main US operations.
President Bush this year banned internet gambling, forcing PartyGaming, 888,
Sportingbet PLC and Leisure & Gaming PLC to pull out of the US.


monicca.egoy@afxnews.com
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