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Permira mulls bid for 888

4 Sep 2014

casino 888UK private equity firm Permira is reportedly mulling a bid for online gaming group 888 Holdings.

Permira is actively looking at 888, but any interest is preliminary, people familiar with the situation told the Wall Street Journal.

The UK’s regulators are set to impose new rules on online gambling companies requiring them to obtain an operating licence, while also introducing a 15 per cent tax on profits made from bets by UK consumers.

The move has removed much of the investor uncertainty that has hampered deal activity in the sector.

888 is listed on the London Stock Exchange and currently has a market cap of around £450m.

Permira has recently launched an accelerated sale of €850m euros ($1.1bn) of shares in fashion house Hugo Boss.

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