IN BRIEF: Flutter receives regulatory approval for Snai acquisition

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Flutter Entertainment PLC - Dublin based bookmaker which owns Betfair and Paddy Power - Receives all necessary regulatory approvals for its acquisition of Italian channel operator Snaitech Spa, from a subsidiary of Playtech PLC for a total enterprise value of €2.3 billion. The sale is expected to complete by the end of April, and Flutter will provide a further update in its first-quarter results on May 7.

‘The acquisition of Snai fully aligns with Flutter’s strategy to invest in leadership positions in attractive international markets, creating value through providing access to Flutter’s market leading products and capabilities,’ says Flutter. ‘Adding Snai to the Flutter portfolio will consolidate Flutter’s leadership position in Italy and create a position of increased scale to capitalize on the growth opportunity in Europe’s largest regulated market.’

Current stock price: 16,750.00 pence, closed down 3.1% on Wednesday

12-month change: up 6.7%

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