Shares in Lottomatica bounce up 5% after drop on CIRSA deal announcement

Lottomatica SpA

03/09/2026 12:54

** Shares in Italy's Lottomatica LTMC.MI are up 5.5%, recouping its losses from Wednesday after it agreed to buy Spanish rival CIRSA CIRSA.MC in a €2.8 billion ($3.25 billion) all-share deal 
** Shares in the betting firm closed down 7.6% in the previous session, as the market was "taken by surprise" by the change in strategy 
** However, Italian broker Intermonte sees the deal as accretive and further strengthens the stock's investment case
** "The transaction allows for increased scale, geographical diversification, and the acquisition of a significant growth opportunity in the online sector, while maintaining financial flexibility and a generous shareholder remuneration policy," it says in a note
** A Milan-based analyst also points to Wednesday's fall as a "technical movement"
** CIRSA shares are also up 5.8% at 1145 GMT, after reaching their record high
** Including Thursday's rise, Lottomatica stock has gained 7.7% YTD

($1 = 0.8615 euros)

 (Reporting by Fabrizio La Rocca)
 ((Fabrizio.larocca@thomsonreuters.com))