Tuesday October 6,2015 : PLAYTECH TO CHALLENGE IRISH OPPOSITION TO AVA TRADE DEAL
Talks appear to have failed, now the focus changes to litigation.
Playtech's troubles over its acquisition of Ava Trade Ltd continued Tuesday with an update from the company suggesting that it has been unable to resolve the opposition to the deal of the Central Bank of Ireland, and will formally challenge the bank's decision.
The update advises:
"The Central Bank of Ireland ("CBI") has reverted to the company's Irish legal advisers and clarified its position. Following this communication and having taken legal advice, the company intends to formally challenge the decision."
InfoPowa readers will recall that late Friday the CBI advised Playtech of its opposition to the takeover for reasons that have yet to be disclosed publicly.
In response, Playtech revealed in a stock exchange notification that it had communicated with the bank in an attempt to resolve the impasse.