Playtech (LON:PTEC) said it is meeting with the Central Bank of Ireland (CBI) today to discuss issues it has regarding the company’s takeover of Ava Trade.
The bank sent Playtech a letter at the end of last week opposing the proposed acquisition of Ava.
Playtech said, having taken legal advice, that it is seeking clarification from the CBI and is confident that it can address issues the bank has raised during discussions today.
The company added that it has already gained regulatory approval from the Financial Services Commission in the British Virgin Islands.
Playtech, through its subsidiary TradeFX, proposed the US$105mln all-share offer for the company back in July, and, as recently as September 18, said it had expected the deal to be completed by the end of last month.
It is one of two deals the company is trying to push through regulatory issues, with the acquisition of Plus500 also awaiting approval.
Playtech said today it continues to work towards securing the one outstanding regulatory approval, having already received approval from the Cyprus Securities Exchange Commission.
Broker Cannacord Genuity said: “Both the AVA Trade and Plus500 deals had been expected to complete by the end of September, so this is undoubtedly a surprise.
“Playtech remains confident that it can address the regulatory issues, but without knowing what are the precise concerns, it will be difficult for investors to fully assess the risks.”
Shares lost 27p to 801p today.