Playtech’s appeal against CBI decision on AvaTrade deal is successful

Playtech PLC (LON:PTEC) has just provided an update regarding its appeal against the Central Bank of Ireland (CBI) decision to oppose the planned acquisition of retail Forex broker AvaTrade.

Playtech said that the appeal was allowed by the Irish Financial Services Appeals Tribunal, with the consent of the CBI, on the grounds of error in the CBI’s decision-making process. This way, the appeal succeeded. Given this, the matter was remitted to the CBI for reconsideration and a new decision.

However, as the proposed acquisition of Ava Trade was terminated by the sellers on November 23, 2015, Playtech has withdrawn its application, bringing this process to a conclusion.

You can view the regulatory filing from Playtech by clicking here.

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Playtech's appeal against CBI decision on AvaTrade deal is successful


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