NETPLAYTV WALKS AWAY FROM THE FOOTBALL POOLS DEAL
11th January, 2016 at 16:15:38
Trading in the company's shares resumes.
The much-discussed negotiation by UK interactive gambling group NetPlayTV for the £ 100 million acquisition of Sportech subsidiary The Football Pools has been terminated, according to a company statement Monday.
In a brief corporate update, NetPlay TV noted:
"After careful consideration the company has decided not to enter into this process and has therefore terminated discussions."
Following the announcement the company's shares, halted whilst the talks took place, were restored to trading on the London AIM market.
According to earlier reports, Sportech has other potential buyers for the Pools and has asked potential buyers to step forward with firm offers for consideration (see previous reports).
NetPlayTV, which is part-owned by Israeli billionaire and Playtech shareholder Teddy Sagi, had ambitious plans for the pools if the deal had gone through, including significant expansion and more digital action.
Sportech has yet to comment on the NetPlayTV withdrawal from negotiations.
Related News Tags: Playtech, Netplay