July 8, 2019 / 2:43 PM / 4 months ago

GVC refutes report on company benefiting from disposed Turkish business

July 8 (Reuters) - Online gambling company GVC Holdings Plc said on Monday it does not benefit from any operations in Turkey, after a report here said that Chief Executive Officer Kenneth Alexander sold company's Turkish business to a business partner.

GVC said the Turkish business was sold last year following a competitive process overseen by investment bank Houlihan Lokey and that all details were fully disclosed in previous announcements.

Shares of the company fell as much as 8.2% during the day before paring losses after GVC put out a statement in response to the media report. GVC shares are now down 3.5% at 653.2 pence. (Reporting by Sangameswaran S in Bengaluru; Editing by Shinjini Ganguli)

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