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Screenshot of a breaking news alert e-mail from Q2 2017
Playtech PLC (LON:PTEC), which in June submitted a £460 million acquisition bid for retail CFD and Forex broker Plus500 Ltd (LON:PLUS), today provided another update on how the approval process for the deal is progressing.
The company said that expects the Financial Conduct Authority (FCA) decision in connection with the proposed acquisition of Plus500 in December 2015. This marks another delay in the approval process: according to a previous announcement from Playtech, the FCA decision was expected by the end of November this year.
Playtech reiterates that the FCA process is confidential and that the company will only announce further details on conclusion of the process.
We are curious to see how the market reacts to the news. Shortly after the Central Bank of Ireland (CBI) opposed the proposed acquisition of AvaTrade by Playtech, Plus500 saw its share price drop as investors were betting that the acquisition by Playtech might not go ahead.
To view the latest announcement from Playtech, click here.