Playtech’s $105m deal to acquire currency trading platform AvaTrade has apparently stalled after Playtech confirmed it has received a letter from the Central Bank of Ireland stating the bank’s opposition to the deal.
In a statement Playtech said: “Late on Friday, October 2, the company received a letter from the Central Bank of Ireland opposing the proposed acquisition of AvaTrade.
“Having taken legal advice and having regard to the circumstances at hand, the company will be seeking clarification from the CBI today and to engage with them in order to discuss certain issues raised in the letter which the company believes can be addressed to the CBI's satisfaction.”
Playtech said that it continues to work towards securing regulatory approval for its acquisition of online trader Plus500 but analysts at Peel Hunt told the Financial Times that the CBI intervention in the AvaTrade deal also raises questions over the Plus500 transaction.
