Paddy Power bid rumours denied

NCB Stockbrokers yesterday poured cold water on speculation that Paddy Power could be a takeover target of Greek betting and gaming company OPAP.

There had been speculation that the Greek company was considering a bid for the leading Irish bookmakers, even though OPAP chief executive Vassilis Neiadas denied there was any truth in the rumours.

That line has been strengthened by NCB saying OPAP is unlikely to make any acquisitions in Europe that could jeopardise its Greek market monopoly.