Rumors that Bwin Party Digital Entertainment is up for sale have been swirling since November 2014 and recently peaked in the media driving up the share price.
Time and time again GVC Holdings has been in the center of rumors. The company partnered with William Hill in 2014 to acquire Sportingbet.
GVC and Bwin Party released similar statements on Friday confirming that they were in discussions.
Bwin said it is in discussions with GVC and "a number of third parties” while GVC confirmed the submission of a proposal to acquire 100% of Bwin.Party Digital Entertainment. Should the proposal be accepted, it would be handled like a reverse takeover requiring approval from shareholders.
The companies both say that nothing is final and will provide updates in time.