19-02-2008 Joe Lewis builds stake in Ladbrokes

According to The Times, the Bahamas based billionaire has increased his stake in the UK's largest bookmaker to 7%.

Lewis quietly increased its stake over the past several months considering the shares undervalued at current prices.

The British-born investor has in the past tried to acquire Victor Chandler and more recently had been linked by industry analysts to Blue Square parent company Rank, with a possible view to merge the gaming and betting operator with Ladbrokes creating a gambling conglomerate to rival Gala Coral.