Online casino and poker group 888 said today it is in talks with bookmaker Ladbrokes in relation to a possible transaction.
Ladbrokes yesterday confirmed it was in early stage discussions over a possible offer for 888, four years after previous discussions stalled on worries of US litigation.
"Ladbrokes confirms that it is in very preliminary discussions with 888," the company said in a statement.
"There can be no certainty that these discussions will ultimately lead to an offer for 888 being made, nor as to the terms of any such offer."
The Sunday Telegraph had earlier reported, without citing sources, that Ladbrokes' new chief executive Richard Glynn had made a £240 million approach to 888.
Ladbrokes started talks with the company in 2006 but it walked away because of the threat of possible retrospective prosecutions from US authorities that were clamping down on internet gambling.
Ladbroke's new offer is pitched at about 70 pence a share, the Sunday Telegraph said.
The newspaper said it understood that 888 had courted other bidders, including online rival Sportingbet.
Reuters