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GVC making progress on bwin.party proposal but bid remains unchanged

24th August 2015 7:08 am GMT

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.

The Isle of Man licensee made an offer for the entire issued and to-be-issued share capital of bwin.party of 25 pence in cash and 0.231 new GVC ordinary shares earlier this month on August 7th.

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