888.Com Confirms Merger Possibilities
Published: Monday, October 30, 2006 Online-Casinos.com
888.COM CONFIRMS IT IS CONSIDERING MERGER OPPORTUNITIES (Update)
Gibraltar-based online gambling group confirms media reports
Online gaming firm 888 Holdings Plc confirmed today (Monday) it has held talks with third parties since the United States banned Internet gambling financial transactions at the end of September.
The confirmation follows weekend media reports in the United Kingdom that 888.com and Party Gaming.com were holding preliminary talks about a possible merger.
In a statement 888 said it had held "various preliminary discussions with third parties following suspension of its U.S. activities," adding that there was no certainty that the discussions would proceed to an offer being made for the company or any other action.
Earlier reports said executives from the two companies - which would have a joint market capitalisation of almost GBP1.6 billion ($3 billion) - expected to hold further talks in the coming weeks as gaming firms consider options to combine their online pool of players in the wake of the U.S. changes.
PartyGaming was not immediately available for comment.
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