Friday, June 17, 2005
That's Liffe - Analysis - Times Online
THAT PartyGaming flotation looks odder and odder. Tucked away in the prospectus is the news that as it is incorporated in Gibraltar, “a takeover offer for the Company will not be regulated by the UK takeover authorities”. Is there another FTSE 100 company not protected by the Takeover Code? And does anyone know anything about Gibraltar takeover law? It seems to me that only one organisation emerges with any credit from all this. Investec Securities quit as adviser in May because of concerns over the legality of online poker and the past business activities of one of the founders. This stand is now widely admired in the City. I wonder how much work Investec has picked up as a consequence?
