Playtech Has a Setback in its Bid to acquire AvaTrade
Playtech has suffered a setback in its bid to acquire AvaTrade. Playtech founded by Israeli Bilionaire, Teddy Sagi, was disappointed that the Central Bank of Ireland had bojected to the purchase of AvaTrade who is an online Dublin based trading group.
Playtech said that they will be seeking clarification from Central Bank after the regulator has raised objections to the deal received in a letter the previous week.
The Plus500 deal was central to Playtech's propose to build a significant financial services operation. Neither Playtech did not state the reason for the intervention of the deal and the Central bank declined to comment. AvaTrade was not assailable for comment.