London Clubs says no bid talks as shares rise
Debt-laden casino operator London Clubs International Plc (LCI) told Reuters on Thursday it had not received a takeover offer and was not soliciting one, after speculation the company was in talks boosted its shares. Its shares rose as much as 10 percent in early trading on Thursday, after a six percent rise on Wednesday. At 1220 GMT the shares were up six percent, or 1-1/4 pence at 23-1/4p. "There is nothing on the table," said a spokesman for the company, whose portfolio includes London casinos Les Ambassadeurs and 50 St James. But industry sources said the firm was likely to become a bid target, provided it reached an agreement with its banks to restructure its debts, which stood at 234 million pounds ($338 million) on September 30. 5g88 Britain's Stanley Leisure Organisation Plc (SLY), Rank Group Plc (RNK) and privately owned Gala Group have all shown an interest in buying part or all of London Clubs, while U.S. ga...