Connect with us

Hi, what are you looking for?

Jewish Business News


Teddy Sagi’s Playtech terminates $700 million deal for Plus500

Teddy Sagi


Israeli billionaire Teddy Sagi’s Playtech PLC, said Monday its planned 459.6 million pound ($697.9 million) acquisition of Plus500 Ltd. has been terminated as a result of regulatory concerns in the UK.

The company had agreed to buy Plus500 in June to expand its online trading platform.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The decision was made over the weekend by the online gambling technology company,  Playtech’s board, after an update from the regulator (FCA) on Friday, the company said in a statement Monday. Playtech said that following the update from the FCA, it was of the view that the steps being proposed to address certain concerns would not sufficiently satisfy the regulator to enable it to obtain approval by Dec. 31.

Plus500, which operates an online trading platform, is planning for an independent future, the company said in a separate statement.

The move comes more than a month after Playtech said it would challenge the Irish central bank’s (CBI) decision to oppose its $105 million deal for currency trading platform Ava Trade Ltd. But it did not say what the issues were.

Shares in Playtech, fell as much as 12.3 percent in early trading, while those of Plus500 sank as much as 22 percent.

Playtech had announced four acquisitions since the beginning of the year worth about $1.3 billion.





You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.