£741m takeover backed

PLAYTECH has been given the green light by Italy’s market authority to complete its £741m takeover of rival Snaitech.

Consob, Italy’s financial markets watchdog, has cleared the way for the gambling software firm to buy the 19pc stake in the business it does not already own.

Playtech said the takeover will establish a strong presence in Italy. It also hailed Snaitech’s leading market position in betting shops.