Melcolot shareholder in talks of exiting

The controlling shareholder of lottery service provider Melcolot Ltd is reportedly in talks for the possible sale of its stake in the company, a filing from MelcoLot states.

The news has sparked “unusual price and volume movements”, but MelcoLot says the sale is under no legally binding agreement, and thus there is no guarantee that it will go ahead.

“There is no assurance that the possible sale by Melco LottVentures of its shareholding in the Company, described in this announcement, will proceed. Further announcements will be made as appropriate,” said the company.

Melco LottVentures Holdings Ltd currently holds approximately 40.65 percent of the issued share in the company.