Playtech to challenge Irish central bank decision on Ava Trade

Gaming technology company Playtech said it intended to challenge the decision of the Central Bank of Ireland opposing its $105-million (€94 million) acquisition of Ava Trade.

Playtech agreed to buy online derivatives broker Ava Trade in July to strengthen its position in the forex trading market.

The Central Bank of Ireland has opposed the Group’s acquisition of Ava Trade.

The company said it would be seeking clarification from the Central Bank about the $105 million takeover, but its shares have fallen 18p to 810p on concerns this could also affect its £460 million deal to buy trading business Plus500 - which is still awaiting approval from regulators - and hamper its move into the financial sector.

Playtech said it was working towards securing the outstanding UK approval for the Plus500 deal, having received approval from the Cyprus Securities Exchange Commission.

Agencies