Playtech confirms talks to sell TradeTech
Online game makerPlaytech releases official statement on possible sale of its financial divisionTradeTech.
The press release states: “Playtech is responding to recent speculation regarding the liquidation of TradeTech's financial platform. We continue to evaluate all scenarios, including a potential sale.”
That said, the document states that TradeTech continues to make a valuable contribution to operational performance. Among other things, it was noted that the department achieved impressive results in the first half of 2020, being able to benefit from increased market volatility and trading volumes.
Despite this, corporate management confirms talks with "a number of parties" regarding the sale of the division, but all dialogue is at an early stage.
Israeli news outlet Calcalist has indicated that Playtech has hired investment bank UBS to tradetech sales. According to preliminary data, the initial price will be from $200 million to $250 million.
Recall that GVC Holdingsapproached to the German authorities with a proposal to support the German gambling business .