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

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Ladbrokes-Coral offers shops to Betfred and Stan James
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17 October 2016

Ladbrokes and Coral have consented to bet9ja's welcome offer 359 shops to competing betting companies in what they say is the "last substantial difficulty" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will purchase 322 stores and Stan James the yohaig code 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 purchase their merger to be .
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The Competition and Markets Authority (CMA) will now evaluate the store offers, external.
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Jim Mullen, the yohaig code president of Ladbrokes, stated: "The sale of these stores will clear the last significant obstacle to providing on the yohaig code merger with Coral and paves the method for our concentrate on completion and rapidly providing on the chances the merger offers."

The two bookies said they would seek approval from the CMA to complete the merger once they sell one further store.

Market leader

Ladbrokes and Gala Coral are the UK's 2nd and third biggest retail wagering firms, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 shops in Britain.
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A merger between the 2 would make them the UK's biggest High Street bookmaker.
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However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competitors and reinforce its online offering.

It was widely reported, external over the yohaig code weekend that William Hill prepares to press ahead with the ₤ 4.5 bn deal in spite of misgivings from its biggest shareholder.

Ladbrokes-Coral must sell 350-400 stores

26 July 2016

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