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Sportingbet's merger misfire

TIP UPDATE: Sportingbet's shares rise and fall as fresh hopes of a bid fade as quickly as they materialised
November 17, 2010

Takeover talk was behind the rollercoaster ride suffered by online gambling group Sportingbet this week.

IC TIP: Buy at 59.65p

Weekend press speculation that the group was in merger discussions with Sweden's Unibet saw the shares climb 8 per cent. But Sportingbet has now confirmed that talks have been terminated, sending the shares down again, even though discussions with other parties are said to be ongoing.

What we said:

When: 15/10/09

Price:74p

Performance to date: -20%