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The battle to acquire bwin.party digital entertainment could reach a conclusion as soon as next week, with the operator’s board asking GVC Holdings to clarify the best terms on which it is prepared to make a formal offer for the business.

London-listed betting and gaming operators Paddy Power and Betfair have reached an agreement in principle to merge the two companies, with Paddy Power shareholders owning 52 per cent of the enlarged group.

London-listed GVC Holdings has confirmed that it is preparing to resubmit its proposal to acquire bwin.party digital entertainment following discussions with the Gibraltar-licensed operator, but will not increase its bid for the company as was widely expected.

Football Pools operator Sportech confirmed Friday that it has received a proposal from Contagious Gaming to acquire the London-listed gaming operator, although the company’s board has advised shareholders to take no action at this time.

London-listed operator GVC Holdings has confirmed its most recent proposal to acquire bwin.party is to be evaluated within the next five to ten days, as it looks to beat rival bidder 888 to the acquisition.

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