The shares of NETeller at London exchange

[img_assist|nid=7835|title=|desc=|link=none|align=left|width=100|height=84]NETeller had a strong rise at the stock exchange in London yesterday. The renewed speculation of a bid was nearly 95 pence per share. However later the company retreated most of the gains as sellers entered the market according to traders.

Two traders cited talk of a potential 95p/share bid, while another trader cited talk of an offer between 90-95p per share.

In the morning trade the share went up 13% to 70 pence but at 13:34 GMT as U.S. sellers entered the market and took profits, the shares dropped to 64.75 pence - 4.4% higher.

On May 15 the shares reached 75 pence - a peak of 2008. That time talk of a bid was 90 pence per share. Since then it fell back.

One of the traders noted that a bid was "more than likely". Since US severe restriction imposed on online gaming in 2006 more than 90% of the stock's value was lost.

NETeller declined to comment.