Playtech Shares Rise After Company Confirms Snaitech Sale Talks With Flutter
By Ian Walker
Playtech shares rose after the company said it is in talks with Flutter Entertainment over the possible sale of its Snaitech business, and granted the FanDuel parent an exclusive period to complete due diligence and documentation.
Shares were up 112.0 pence, or 21%, at 650.0 pence in late morning trading. They are currently up 45% over the year to date. Flutter's London-listed shares are up 1,255.0 pence, or 8.6%, at 15,910.0 pence. They are currently up 14% over the year to date.
The gambling-software company said Wednesday that there is no certainty any deal will be agreed, nor any terms thereof.
The company was responding to a press report that it was in talks with Flutter over a potential 2 billion pound ($2.57 billion) sale of the business.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 14, 2024 06:14 ET (10:14 GMT)
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