There is talk that sources are seeking to buy up Tipp24 shares

It is being suggested in the media that Tipp24, the German online lottery company, may recently have become too successful even for its own purposes. In fact there are several reports that have recently came to light suggesting that a company that is yet to be identified may be trying to buy up its stock.

Earlybird Venture Capital, which is one of Tipp 24’s shareholders, has made it known to the company that there are actually as many as two organizations with which it has been associated that have sold holdings making up a total of 13 percent to one investor, and Tipp24 AG has in return confirmed that it has been told by several of its other major shareholders that yet a third party has approached them looking to purchase their Tipp 24 shares.

It was confirmed by Reuters this week that Tipp 24 is in line to reach its fiscal 2007 business targets. The company is producing an EBIT result that is slightly higher than that of last year reaching Euro 7.2 million and is also planning to stabilize the share of the market that it holds in the growing online lottery market. The  company is also expecting still additional growth in billings and revenues in the amount of about 20 percent. Revenue of Euro 34.58 million was reported by Tipp 24 In 2006, and analysts by in large are expecting that the online lottery firm will be reporting for the full year 2007, revenue of Euro 40.78 million and EBIT of Euro 8.01 million.

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