Bwin is takeover target

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Bwin.PartyBwin, the online gambling company, has entered takeover talks. The former shirt sponsor of clubs including Real Madrid and AC Milan today confirmed that the company is the subject of a takeover offer which sent the share price soaring.

The company board acknowledged that it was in an early stage of negotiations where multiple parties are involved. The company did not say when more clarity about a possible deal would be revealed.

According to the Financial Times, Canadian gambling company Amaya Gaming is interested in Bwin. Earlier this year, Amaya paid $ 4.9 billion for online poker sites PokerStars and Full Tilt becoming the largest publicly traded online gambling company in one hit.

While analysts think that Bwin fits the strategy of Amaya, Bwin does have to deal with regulatory problems in its core market, Germany.

The shares, listed on the London Stock Exchange, rose 10.5% regaining all of its losses for the the year.

Want to know moere about Bwin? Read our Bwin review here.

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