Bwin.Party denies any plans for sale or split

 
Oliver Smith
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ONLINE gaming company Bwin.Party yesterday denied that it was considering selling itself or part of the company as part of a strategic review.

Bloomberg had earlier reported that a sale was being considered, causing Bwin’s shares to jump as much as nine per cent.

“The board of Bwin.Party has noted the recent speculation in the media regarding a possible break-up or sale of the company,” Bwin’s board said in a statement.

“Since his appointment as chairman last month, Philip Yea has been working with the executive management team on ways in which the group can increase shareholder value, however we can confirm that there are no plans to break-up or sell the company.”

Bloomberg reported that Bwin.Party had hired Deutsche Bank to consider its options, which the company is expected to decide on within two months. Shares soared as much as nine per cent during early-morning trading before closing up 3.62 per cent at 96p per share.

Bwin could not be reached for further comment.

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