FCA decision on Playtech/Plus500 deal delayed to December
A decision by the Financial Conduct Authority on online gambling company Playtech's £460m takeover of contracts-for-difference broker Plus500 has been pushed back to December.
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Playtech had said in September that regulatory approval was taking longer than initially thought due to the high profile of the deal, adding that it expected the regulatory assessment to be completed by November.
Plus500 said on Wednesday that the terms of the merger agreement are such that it may be terminated if the acquisition is not consummated by 31 December.
“Playtech has informed Plus500 that the FCA's regulatory assessment is a confidential process between the FCA and Playtech. Playtech will only announce further details on conclusion of the process.”
At 1337 GMT, Plus500 shares were down 0.4% to 355p while Playtech was 2.8% weaker at 850p.