PartyGaming to appoint four continental banks to arrange a London's IPO

By Bookmakers Review21 May 2005
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 PartyGaming to appoint four continental banks to arrange a London's IPO
PartyGaming invited German banks Commerzbank and HVB, Spain's BBVA and Italy's Mediobanca to co-lead an IPO which is likely to be pushed hard in continental Europe as well as in the UK. 

One source close to the online poker company said they struggled to get big name investment banks on board.

"None of the US houses want to do this because of the problems with this business in the US," he said.

European banks such as Deutsche Bank and UBS, which want to protect their large businesses in the US, declined the offer as well.