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

bet9ja.com
Ladbrokes-Coral offers shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have agreed to bet9ja's welcome offer 359 stores to competing wagering firms in what they state is the yohaig code "last considerable obstacle" for their ₤ 2.7 bn merger.
bit.ly
Betfred, owned by billionaire Fred Done, will purchase 322 shops and Stan James the yohaig code other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral must sell 350-400 purchase their merger to be cleared.

The Competition and Markets Authority (CMA) will now assess the shop deals, external.
bit.ly
Jim Mullen, the primary executive of Ladbrokes, said: "The sale of these shops will clear the last significant difficulty to providing on the merger with Coral and leads the way for our concentrate on conclusion and quickly providing on the chances the merger offers."
bet9ja.com
The two bookmakers said they would look for approval from the CMA to complete the merger once they sell one further store.
bit.ly
Market leader

Ladbrokes and are the UK's 2nd and third largest retail wagering companies, behind William Hill.
bet9ja.com
Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 shops in Britain.

A merger in between the two would make them the UK's biggest High Street bookie.

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 reinforce its online offering.

It was commonly reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn deal regardless of misgivings from its biggest shareholder.
bit.ly
Ladbrokes-Coral must bet9ja's welcome offer 350-400 stores
bet9ja.com
26 July 2016

William Hill investor snubs merger plan

14 October 2016

Investors - Ladbrokes plc