M&A News

In a significant blow to the company’s plans to enlarge its financial trading business, Playtech confirmed Monday that it will not proceed with its proposed £459.6m acquisition of London-listed spread betting and CFD provider Plus500, while also warning that its deal to acquire Ava Trade may also fall through.

Despite receiving regulatory approval to acquire Plus500 from the Cyprus Securities Exchange Commission, Playtech had been in active dialogue with the UK’s Financial Conduct Authority (FCA) in relation to certain concerns raised by the FCA.

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