Playtech Shares Jump 19% on Flutter Interest in Italian Unit
Playtech shares jumped after the company confirmed reports it was in exclusive talks with Flutter on the potential sale of its Italian unit.
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Playtech Plc’s shares jumped the most in almost three years after the European gaming company confirmed reports it was in exclusive talks with Flutter Entertainment Plc on the potential sale of its Italian unit, Snaitech, for about £2 billion ($2.6 billion).
The London-listed company confirmed the discussions in a statement Wednesday, following a report by Sky News. Playtech said it had granted Flutter a period of exclusivity to complete due diligence and finalize transaction documentation.