ladbrokes-coral-sells-shops-to-betfred-and-stan-james

Ladbrokes-Coral sells stores to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have concurred to sell 359 stores to rival betting firms in what they state is the "last significant obstacle" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will purchase 322 stores and the other 37 for an overall of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral should sell 350-400 buy their merger to be cleared.
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The Competition and Markets Authority (CMA) will now evaluate the store deals, external.
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Jim Mullen, the primary executive of Ladbrokes, stated: "The sale of these stores will clear the last significant obstacle to delivering on the merger with Coral and paves the yohaig code way for our concentrate on completion and quickly providing on the yohaig code opportunities the merger provides."

The two bookmakers stated they would seek approval from the CMA to finish the merger once they bet9ja's welcome offer one additional shop.
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Market leader
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Ladbrokes and Gala Coral are the UK's second and third biggest retail betting companies, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.
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A merger between the 2 would make them the UK's biggest High Street bookie.
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However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to keep up with the competitors and bolster its online offering.
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It was widely reported, external over the weekend that William Hill prepares to press ahead with the yohaig code ₤ 4.5 bn deal in spite of misgivings from its largest shareholder.

Ladbrokes-Coral should bet9ja's welcome offer 350-400 stores

26 July 2016
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William Hill financier snubs merger plan

14 October 2016

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