Hey lads.

This is probably more applicable to Europeans however;

I bought 550 shares in Stars Group in early March on Revoluts trading platform. On the 4th of May Stars Group merged with Flutter and according to Flutters website merging information, all Stars group shares should be transferred to Flutter Entertainment stock (Specific details of how given on their site).
I have been speaking to Revolut daily about this and get the same lines from them: "We are looking into it, please be patient".
It has been almost a month now and still zero updates. Just constant fobbing off.
My next step is to take this to the FCA however they have a 4 month waiting time on cases. I can't even liquidate the old shares, they are just sat there frozen.

I contacted the company who looked after the merger and got this response:

Dear Sir/Madam,

Thank you for your inquiry.

Brokers were pushed out and have all received DRS advices for their positions in The Stars Group. Once their DRS advice received, they are required to submit a Letter of Transmittal for their position.

Unfortunately, as your holdings are held with a brokerage firm, we are unable to provide additional information on the whereabouts of your particular Flutter Entertainment PLC entitlement.

It is your broker's responsibility to submit the holdings for exchange on your behalf. We apologize we are unable to assist you further with this matter.


If anyone have any advice I am all ears, otherwise, please be careful if you are using Revolut to trade.

Get someone on the phone. Don’t get off until you have your shares or the legal department’s contact info.


Sent from my iPad using Tapatalk

Revolut dont have agents on the phone. Their phone line just gives direction to speak to them on live chat where they keep saying the same thing; "Still no updates, I cant provide a time frame or put you in contact with trading team"

Demand to speak to legal. They should have their own department

Done that several times mate. Just checked the history on my chat logs. I've spoken to 42 different people. Had same info from all of them....

I'd pay money to anyone who could get me contact details for someone who will actually help....

Literally $15,000 sat there frozen

I think Will Neale is an investor, you might try posting your frustration with customer support on his Twitter...

https://twitter.com/willneale?lang=en

Good luck, sounds like Revolut is pretty shady...

Tweeted him and added him on LinkedIn. Thanks for the tip and appreciate anyone else's tips

https://uk.linkedin.com/in/daniel-geller-358601b2

https://blog.revolut.com/author/kiran/

Added both of those there. Will message when they accept.

Have actually just mass added like 50 people on linkedin. I am going to spam every employee I can until someone responds

Please please please, read before invest your money with any broker platform. Revolut is NOT an ECN broker firm. Revolut sells you exposure to a stock price, you do NOT get the real stock under your name. Revolut holds the stock for your under their name. Merger transactions are corporate transactions and every broker has different rules about them. Revolut offers contract for difference CFD service and not real stocks. The most probable outcome in your situation is that you will get payed back based on the price that the merger was happening. For example if the merger closed with $10 per share you will get back $10xnumber_of_shares_bought.

Right now I'd take most amounts for these shares. Goes without saying I'll wont be buying anything else with revolut.

I got a message the merger is complete and it was a fault on a DriveWealths end (obviously just shifting blame). The money was made available to withdraw for weeks now, it got converted on a very crippled price than what I originally wanted to sell for.

Needless to say I will never trade any shares with Revolut again and now have already accumulated multiple experiences when they outright stole my money with the same very similar playbook.

My advice is to anyone at this point to not keep serious amounts on Revolut and especially don't use them for anything else than payment processing / transactions as they have a clear tendency to serve themselves liberally from your own pockets.

I still have not got any money back what so ever...

Do you have more information on when you got your money?

It's been a while now

Update...

Money randomly appeared in my account on Friday...

Brag - Was $4k more than it would have been 5 months ago due to price increase in FLutter
Beat - 5 ****** months.... Absolutely hilarious. So lucky the market didnt crash etc etc...

/thread