OpenCalais Metadata: Ticker
OpenCalais Metadata: LegalName
The outflow of investors from OPAP, sparked by the Sazka Group's acquisition of a bigger stake in the Greek gaming company through a public offering, dragged most stocks at Athinon Avenue lower on Tuesday, before a late rally mitigated the benchmark's losses. Daily turnover was the highest in 23 sessions.
The Hellenic Capital Market Commission on Monday approved a bid by Czech-based Sazka Group to take full control of gaming firm OPAP.
Greece sold a 33 percent stake in OPAP to Emma Delta, currently owned by Sazka Group and Georgios Melissanidis, in 2013 for about 650 million euros as part of an international bailout.
Czech-based Sazka Group has launched a bid to take full control of Greece's OPAP, Europe's fourth-largest betting firm by revenue.
Greece sold a 33 percent stake in OPAP to Emma Delta, currently owned by Sazka Group and Georgios Melissanidis, in 2013 for about 650 million euros ($729.9 million) as part of a European Union-prescribed international bailout.
Czech-based lottery and gaming operator Sazka Group said it is looking at an initial public offering in London to help fund growth in Europe.
The group, owned by Czech investors Karel Komarek's KKCG group and Jiri Smejc's EMMA Capital, has become one of Europe's biggest betting operators after acquisitions in recent years.