Bwin.party denies sales talks collapse as share price plummets
Share price down almost 25% to 77p during trading on Friday - a seven-year low
Bwin.party has denied talks over a potential sale of the firm have collapsed despite its share price plummeting almost 25% during trading on Friday to a seven-year low.
The London-listed firm’s share price was 102.5p when markets opened on Friday morning, but fell to a low of 77p, prompting some analysts to conclude that talks over a potential sale of all or part of the firm had run aground.
But a spokesman for bwin.party told eGaming Review that “in the event that talks had concluded”, the firm would be “obliged to update the market”.
“At the moment we have no such update to issue,” the spokesman told eGR.
The news comes off the back of a tough start to the year for bwin.party after the firm announced it expected to pay approximately 15m in VAT during 2015 following recent changes within European Union member states.
Bwin.party’s share price has rallied somewhat to 85.74p at the time of writing.