UKBetting Makes Offer For TEAMtalk

Digital betting and sports content business UKbetting has made an offer for TEAMtalk that values the radio and media group at around �10.2 million.

UKbetting had not had any formal discussions with TEAMtalk’s management prior to announcing its 4.5p per share offer for the group, which owns national talk-based radio station TEAMtalk 252.

Commenting on the offer, vice chairman of UKbetting, Peter Dubens, said: “The combination of UKbetting and TEAMtalk represents an opportunity for further consolidation in the sector. UKbetting’s experienced management team will work to grow the enlarged group in accordance with a strategy focused on maximising shareholder value.”

TEAMtalk has been quick to respond to the offer and has issued a statement saying: “The board of TEAMtalk believes that [the offer] significantly undervalues the company and urges shareholders to take no action.”

The TEAMtalk 252 radio station launched in February after the TEAMtalk Media Group bought music station Atlantic 252 last October and relaunched it as a sports-based station (see TEAMtalk Buys Atlantic 252). RAJAR figures for the three months ending March 2002 place TEAMtalk 252’s weekly reach at 428,000.

UKbetting PLC 020 7529 4857 http://www.ukbetting.co.uk Teamtalk: 0870 128 3333 www.teamtalk.com

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