Amaya founder David Baazov has confirmed that a company he said was financially backing his proposed takeover of the online gaming company has no plans to do so. In a statement today, Baazov said an equity commitment letter he received purporting to be from KBC Aldini Capital Ltd. was delivered without KBC's knowledge or consent. Baazov says the Dubai-based firm has not committed to provide financing for the deal. He says he intends to obtain replacement financing and sticks by his $6.7 billion US proposal to purchase Montreal-based Amaya, which would include its debt. The bid values Amaya at about $3.48 billion Cdn.

Source: CBC News November 23, 2016 19:40 UTC