Posted By: Tom Hustler

Mon Nov 6, 7:46 AM ET

LONDON (AFP) - Gaming operator Ladbrokes has confirmed it is mulling the purchase of online betting company 888 Holdings.
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"The board of Ladbrokes notes the speculation in the weekend press and the company can confirm that it is in the early stages of reviewing a possible transaction involving 888 Holdings," Ladbrokes said in a brief statement Monday to the London Stock Exchange.

"No decision has been made as to whether any proposal will be made to 888."

According to The Mail on Sunday newspaper, Ladbrokes executives flew to Israel over the weekend to hammer out a takeover of 888 which valued the company at 470.0 million pounds.

British-listed gambling websites were forced into halting their US operations last month after US President George W. Bush approved a law that bans Internet betting.

Ladbrokes, formerly known as Hilton Group, owns a 2,000-strong chain of betting shops in Britain.

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