William Hill abandons Probability

Shares in mobile gambling specialist Probability dropped 16 per cent after William Hill's takeover bid collapsed. It is understood Playtech, which has a 21 per cent stake in Hill’s online arm, felt a deal with Probability could have hurt its interests. The company, Britain's biggest bookmaker, was required to decide whether it wanted to make an offer for Probability by no later than 17 October but last month Probability said that following a joint submission with Hill, the two companies had been granted an extension until 14 November.