NetPlay TV ends pursuit of The Football Pools

Interactive gaming operator NetPlay TV has confirmed that it has ended its pursuit of Sportech asset The Football Pools (UK).

Issuing a short corporate update, the operator confirmed that it had ‘terminated talks’ with Sportech governance regarding its interest in the division.

“After careful consideration the company has decided not to enter into this process and has therefore terminated discussions,” said NetPlay in a brief regulatory statement.

As a result of the termination, the suspension on the company’s ordinary shares on the London AIM has been restored this morning (at 7:30 am).

NetPlay TV had entered discussions with Sportech governance in late December regarding a  reverse takeover of The Football Pools, valuing the asset at £100 million.

Part owned by Israeli igaming billionaire Teddy Sagi, NetPlay TV governance were reported to want to acquire the Football Pools in order to expand the firm’s product portfolio. The operator was further reported to want to modernise the product to a digital audience.

Following the acquisition interest from NetPlay TV, Sportech governance announced that it had received multiple proposals from interested parties wanting to acquire the asset.

Seeking to put forward the best value offer for its shareholders, the governance of Sportech Plc has asked all Football Pools interested parties to submit initial acquisition offers to its board by the mid-January 2016.

Sportech governance has made no official comment on the withdrawal of interest by NetPlay TV