Cassava could float to acquire

ONLINE gaming firm Cassava Enterprises, owner of the 888.com poker website, is preparing for a speedy flotation to fund a large takeover.

Cassava is believed to be mulling a bid for its rival PokerStars, the world’s second largest Internet poker firm, the British Sunday Express newspaper said, citing unidentified city sources.

They added that Cassava’s lead banker, HSBC, was planning to list the company on the London Stock Exchange in an stg£850 m (€1.2 bn) flotation this autumn.