Italian regulator approves Playtech's Snaitech acquisition

Italian financial market regulator, Consob, has approved gambling software group Playtech’s mandatory takeover offer for the remaining shares of Snaitech it does not own.

Playtech currently holds a stake of nearly 81% in Snaitech following its €846m takeover bid for the Italian gaming firm, plus on-market purchases of shares.

The company completed the acquisition of a majority stake in Snaitech on 5 June, when it bought an interest of around 70.6% of Snaitech, having also separately acquired approximately 9% through market purchases since the announcement of the initial deal on 12 April.