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

Ladbrokes-Coral offers shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually concurred to sell 359 shops to rival betting firms in what they say is the "last significant difficulty" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will purchase 322 shops and Stan James the other 37 for an overall of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral must bet9ja's welcome offer 350-400 purchase their merger to be cleared.
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The Competition and Markets Authority (CMA) will now evaluate the shop deals, external.

Jim Mullen, the president of Ladbrokes, stated: "The sale of these stores will clear the last considerable difficulty to providing on the merger with Coral and leads the way for our concentrate on completion and rapidly providing on the opportunities the merger uses."
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The two bookies said they would look for approval from the CMA to complete the merger once they sell one more shop.
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Market leader

Ladbrokes and Gala Coral are the UK's second and third biggest retail wagering companies, behind William Hill.
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Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. 1,850 shops in Britain.
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A merger between the 2 would make them the UK's largest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to keep up with the competition and boost its online offering.
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It was commonly reported, external over the weekend that William Hill prepares to press ahead with the ₤ 4.5 bn deal in spite of misgivings from its largest investor.
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Ladbrokes-Coral need to sell 350-400 shops
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26 July 2016
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William Hill investor snubs merger plan

14 October 2016

Investors - Ladbrokes plc