18th Nov 2015 13:35
LONDON (Alliance News) - Playtech PLC on Wednesday said it now expects a decision from the UK's Financial Conduct Authority on its proposed acquisition of contracts-for-difference broker Plus500 Ltd to come in December.
Plus500 had previously said it expected regulatory approval for the deal to come by the end of November and, under the terms of the agreement between the two, the deal could be terminated should it not be completed by the end of 2015.
Playtech itself had said it expected the deal to close by the end of November in its trading update at the end of October. Playtech agreed to acquire contracts-for-difference trader Plus500 in a GBP459 million deal in early June.
Shares in Playtech were down 2.8% to 849.5 pence on Wednesday, while Plus500 shares were down 0.6% to 354.25p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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