The Sazka Group had launched an offer to buy out the remaining 67% stake in OPAP not owned by Emma Delta. Having received an approval from the Greek Capital Markets Commission, Sazka Group has now commenced the bid. OPAP shareholders can tender their shares over 1-29 October in an all-cash deal. We believe the bid is unlikely to generate significant uptake at the offered price level and stick to our current target price and recommendation on OPAP stock.
03 Oct 2019
Should investors bite Sazka's bait?
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Should investors bite Sazka's bait?
- Published:
03 Oct 2019 -
Author:
Virendra Chauhan -
Pages:
3
The Sazka Group had launched an offer to buy out the remaining 67% stake in OPAP not owned by Emma Delta. Having received an approval from the Greek Capital Markets Commission, Sazka Group has now commenced the bid. OPAP shareholders can tender their shares over 1-29 October in an all-cash deal. We believe the bid is unlikely to generate significant uptake at the offered price level and stick to our current target price and recommendation on OPAP stock.