£4m share windfall

A GVC Holdings board member has earned £3.8m by selling 400,000 of his shares in the sports betting agency.

Norbert Teufelberger offloaded the shares at 951.9p each. The 52-year-old chief executive of Bwin, which was taken over by GVC last year, now holds over 755,000 shares in the company.

GVC’s stock price has increased rapidly over recent months, up from 676.5p a year ago.

Shares soared again last week after it announced the sale of its Turkish business for £134m. With gambling restricted in Turkey, the sale could pave the way for a potential multibillion pound merger with Ladbrokes Coral.

Talks between the firms broke down earlier this year after Ladbrokes raised concerns about more restrictions on the sector in the country.