| Independent news close to selling Foxy Shares |
| Monday, 20 April 2009 11:51 |
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Independent News and Media is close to have completed its sale of major shares in Cashcade. Cashcade is the Bingo Operator behind popular brands such as Foxy Bingo, Think bingo and more recently Cheeky bingo being their latest offering. Independent News and Media have been working with corporate advisers Lazard to find a buyer of the group that has said to be losing some £10 million a year for some time. Independent news and media runs the national newspaper The independent and Independent on Sunday. Although the company is beingsplit up and sold seperately, the Daily Telegraph has reported the cashcade sale of shares is very close to completion. |
