Bwin backs out of 888 buyout in favour of higher bid

Sportingbet owner's higher £1.1bn offer chosen after protracted process

bwin
(Image credit: Gabriele Maltini/Getty)

A five-month bidding war to secure the latest consolidation in the gambling sector finally appears likely to yield a buyout after the owners of online gaming firm Bwin.party switched their previous recommendation to back a £1.1bn offer from GVC, which owns rival Sportingbet.

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