SOURCE: Reuters

(London, England) — Football pools operator Sportech (SPO.L) said on Friday it would continue to pursue an acquisition of the Vernons pools business, despite a referral of the deal to the Competition Commission.

Sportech said in March it was in talks to buy Vernons from betting group Ladbrokes (LAD.L: Quote, Profile, Research), a deal that would put the country's two biggest pools operators together.

But the Office of Fair Trading (OFT) ruled earlier this month that the proposal should be referred to the Competition Commission, a move likely to delay the deal for months even if it is eventually approved.

"Sportech will offer its full support and co-operation to the Competition Commission during its consultation process (and) will make a further announcement once the Competition Commission issues its decision, expected by 17 October," the company said in a statement.

Shares in Sportech were flat at 14-3/4 pence by 9:04 a.m., valuing it at 87.3 million pounds.

Sportech owns the Littlewoods version of the pools, a system that allows punters the chance to bet on the outcome of a series of football matches.

The concept has taken a hammering from the National Lottery in recent years, attracting just 10 percent of the customer numbers it enjoyed before the launch of the prize draw in 1994.