bwin.party asks for clarity on GVC latest bid

In the ping pong game that the Bwin-Party – GVC Holdings takeover negotiations appears to have become, the former company issued yet another statement Thursday, confirming that “…key aspects of GVC’s proposal have now been addressed to bwin.party’s satisfaction,” but advising that it is now asking GVC for clarity on the best terms on which GVC is prepared to make a formal offer.

Bwin continues to caution that there can be no certainty that an offer will be made by GVC for bwin.party, and advises that rival bidder 888 Holdings plc has been informed of the latest developments and will, if appropriate, will be given due notice in the event that bwin.party proposes to recommend an offer from GVC.

“Bwin.party’s directors’ unanimous recommendation of 888’s offer, that was announced on 17 July 2015, is unchanged by this announcement,” the statement notes, saying that it expects to give a further update on Tuesday, 1st September 2015.

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