TTB Partners has announced that it is withdrawing from making an offer to acquire Playtech, with the immediate consequence that the software developer's shares fell by 17%
TTB Partners has stated that it is withdrawing citing difficult market conditions.
"Challenging global economic and market conditions which were not present in February made it impossible to create the right structure for a new company", Playtech Chief Executive Mor Weizer and former CEO and current investor Tom Hall said in a joint statement.
While from Playtech they expressed their confidence in the "positive long-term perspectives" of the group, with basic profits for the first half expected to exceed 200 million euros.
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