LONDON, Jan 24 (Reuters) - Asia-based Guoco upped its stake in British casino, bingo and online betting company Rank Group Plc on Thursday to 4.09 percent.
Guoco, run by Quek Leng Chan, raised its holding from 3.17 percent, a move likely to fuel speculation that it is eyeing up a bid for the UK group.
Rank, hit hard by the smoking ban and the loss of lucrative gaming machines, has been the subject of takeover rumours since a profit warning in the autumn led to a collapse in its share price.
Malaysia-based gaming group Genting has also built a 10 percent stake in Rank and the Richardson property and haulage family is also said by analysts to have built up a 9 percent holding. (Reporting by Marc Jones; Editing by David Holmes)
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Friday, January 25, 2008
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