Gibraltar-based lottery betting operator Lottoland has proposed an offer of between €60m and €76m for Zeal’s German-focused Tipp24.com business.

Having reiterated its belief that Zeal’s takeover offer for Lotto24 destroys value and makes no strategic or economic sense, Lottoland has proposed to acquire certain assets relating to Zeal’s German business operating as Tipp24.com. This includes UK-based subsidiary Tipp24 Services but excludes Zeal’s MyLotto24 business.

Compared to Zeal’s proposal for Lotto24, Lottoland said that its proposed offer will “at least equally achieve or enable these outcomes, likely exceed them, whilst also creating additional benefits for shareholders”.

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