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Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually agreed to sell 359 shops to rival betting firms in what they state is the yohaig code "last substantial hurdle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will buy 322 shops and the other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral must sell 350-400 look for their merger to be cleared.
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The Competition and Markets Authority (CMA) will now examine the shop offers, external.
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Jim Mullen, the chief executive of Ladbrokes, stated: "The sale of these stores will clear the last substantial difficulty to delivering on the yohaig code merger with Coral and leads the way for our concentrate on conclusion and rapidly providing on the chances the merger provides."
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The two bookmakers stated they would look for approval from the CMA to complete 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.
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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 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 stay up to date with the competitors and boost its online offering.
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It was extensively reported, external over the yohaig code weekend that William Hill plans to push ahead with the ₤ 4.5 bn deal regardless of misgivings from its largest investor.
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Ladbrokes-Coral must sell 350-400 stores

26 July 2016

William Hill investor snubs merger strategy

14 October 2016

Investors - Ladbrokes plc