Casino News: Merger talks abandoned by unibet and sportingbet

Merger talks abandoned by unibet and sportingbet

 November 18, 2010, 11:44 am (8 years ago)
Unibet Group Plc the Stockholm-listed online betting company stated that its discussions regarding a prospective merger with the UK Sportingbet Plc have been ceased. It was stated on media reports throughout the weekend.

However, the company stated that Unibet is continuing to discuss about the issue with several companies in the gaming sector.

The Sunday Times publicized a report, the previous Sunday citing anonymous sources, that the two massive betting companies had held negotiations to merge their operations and that advance talks were estimated over the upcoming weeks.

A company with a market value worth GBP600m would have been created by the prospective merger. This was in accordance with the report from the market experts.

Due to the amalgamation speculations Unibet’s Swedish depository receipts (SDRs) rose steeply by over 5% on the stock exchange in Stockholm yesterday. On the other hand after the public issue of the statement the stocks had lost 2.68%.
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