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888 takeover deal still alive

7/2/2011
Online gambling company 888 has confirmed that it is still in talks with Ladbrokes about a potential takeover.

Chief executive Gigi Levy said that the deal – which would see his company taken over by the British bookmakers – was still on the cards, despite a Mail on Sunday report that talks were on the verge of collapse because an agreed price could not be reached.

"It's definitely not off the table," said Levy. "There is still interest on both sides in doing a deal. Every big deal has complexities, but there's nothing which is a big sticking point. There's a variety of things like in any deal. We're trying to see whether we can tackle them or not.”

As of 9:31am on Monday morning, shares in 888 Holdings were up 5.7 % to 46.25 pence, valuing the company at nearly £160 million. They had earlier risen by as much as 6.3%.
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