London-listed Playtech announced that it is selling its 10% stake in online trading platform Plus500 Ltd.
Spread betting firms suffer double-digit share price declines after European Securities and Markets Authority warns that further restrictions are coming.
Playtech is finally closing the Ava Trade acquisition chapter, months after it announced plans to buy the contracts-for-difference broker.
Playtech scraps planned acquisitions of spread betting firms Plus500 and Ava Trade due to inability to resolve UK regulatory concerns.
CBI is opposing Playtech’s plan to acquire Ava Trade, a Dublin-based online forex and contracts for difference (CFD) outfit.
Plus500 has extended its shirt sponsorship deal with Spanish La Liga Club Atlético de Madrid for the next two years.
Playtech Plc placed 9.9% stake in the company to raise £250M and fund the acquisition of online trading services provider Plus500 Ltd.
Plus500’s second largest shareholder Odey Asset management said that it would vote against Playtech’s proposed £460M acquisition bid.
Playtech has agreed to acquire London-listed financial trading and spread betting operator Plus500 for approximately £460m.
The English Premier League champions and the Spanish Liga BBVA champions announced separate sponsorship deals.