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BUZZ-Optimal Payments: Up on FCA approval for Skrill deal

Tue, 04th Aug 2015 08:00

** Online money transfer co Optimal Payments upmore than 7 pct after UK's financial watchdog gives its go-aheadfor co's acquisition of European digital payments businessSkrill.

** Best day for the stock in a month with half its 30 dayaverage volume traded in the first hour

** Co says in a statement on Monday that it expects the dealto close on Aug. 10.

** Co said in March that it would buy the maker of theSkrill e-wallet, the biggest competitor to its e-wallet businessNeteller, for an enterprise value of about 1.1 blneuros

** Co said then that the deal would expand its onlinepayment and digital wallet services and reduce dependence on afew large customers, including its biggest in the gaming market

** Numis analysts view deal as "transformational", addingthat Optimal now has all the components in place to perform wellBroker reiterates "buy," TP 450p (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)

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