Playtech sets July 15 shareholder vote on Finalto/Markets.com sale
It will be interesting to see if shareholders rubber stamp the deal – Playtech shareholders have mounted small revolts in the past.
It will be interesting to see if shareholders rubber stamp the deal – Playtech shareholders have mounted small revolts in the past.
Buying Finalto is Zvika Barenboim’s Barenboim Group with backing from Leumi Partners Limited and Menora Mivtachim Insurance.
Finalto’s revenues of €87.3 million in H1 2020 declined by over 60% to €34.6 million in H2 2020.
The Cyprus based Elena Christodoulou had been Country Manager – Germany for Tickmill for the past four years.
The acquiring group is made up of Israeli entrepreneur Zvika Barenboim, Bank Leumi, and insurance concerns Menora and Phoenix.
Playtech continues to be in discussions regarding the possible sale of its financials division, Finalto, including the Markets.com brand.
Markets.com has also moved its South Africa operation and headquarters from the coastal city of Durban, to Johannesburg.
Prior to TIOMarkets Eleni Nicolaou also worked in affiliate marketing at FX brokers FXGlobe, BDSwiss, and HotForex.
TradeTech had what an “outstanding period” both before and during the months of the pandemic, with revenues increasing by 123%.
Why is Spain all up in arms about UK and Cyprus FX/CFD brokers, to the point where many might be banned? Why is Playtech selling Markets.com?