Entain shares slide after deal to buy Poland's STS Holdings

Sts Holding SA

14/06/2023 08:08

LONDON, June 14 (Reuters) - Entain  ENT.L  shares fell
to the bottom of the London blue-chip index  .FTSE  on Wednesday
after the betting company announced deal to buy Poland-based
sports betting operator STS holdings  STH1.WA .
    Entain shares fell 10% to their lowest since March 29, in
their biggest daily decline in four months. 
    After the European market close on Tuesday, the
sports-betting and gaming company said it will pay 24.8 Polish
zlotys ($5.97) for each STS shares in a 750 million pounds ($946
million) deal, which will further its footprint in Europe.
    STS shares surged to December 2021 high, last up 12.3%.
    

 (Reporting by Joice Alves; Editing by Amanda Cooper)
 ((Joice.Alves@thomsonreuters.com; Twitter @joiceal;))