Packer’s private company says “no immediate plans for privatization”

 James Packer’s private company, Consolidated Press Holdings says it has no immediate plans take Crown Resorts private following speculation on Wednesday that sent shares in the Australian casino operator soaring.

In a statement published by the Australian Securities Exchange, Consolidated Press Holdings said although it occasionally goes into talks with third parties about investments, it does not mean it is planning a buyout of Crown.

“CPH has not put forward any proposal of the nature speculated in the media to Crown Resorts Ltd independent directors,” the statement said. The fact that CPH has discussions with third parties about its investments “should not be taken as any indication that any proposal, of the nature that has been subject of the media speculation, will be made by CPH in the future”, it added.