Playtech purchase of Plus500 delayed by concerns from FCA

Back in June it was reported that Playtech were hoping to get binary options by purchasing Plus500. However, it seems that this isn’t possible as the £459.6m investment was delayed due to concerns raised by the UK Financial Conduct Authority.

FCA Application

According to reports, Playtech deliberated over its FCA application, which is due next month and was unable to address the concerns. “The company has discussed with Plus500 the consequences of the recent developments with the FCA and has agreed to the termination of the merger agreement,” Playtech stated.The company was quick to point out that it would not face penalties due to the termination of the merger with Plus500, and declared that the existing 9.9% holding in Plus500 would remain.playtech-slots

‘In good shape’

Despite the termination, Plus500 CEO Gal Haber is confident about his company, saying it is in ‘good shape’. “Plus500 remains a growing, highly profitable and cash generative company with strong momentum in an expanding international market,” he stated.

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