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Ladbrokes-Coral offers stores to Betfred and Stan James
17 October 2016
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Ladbrokes and Coral have actually concurred to bet9ja's welcome offer 359 stores to rival wagering 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 a total of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral should offer 350-400 buy their merger to be cleared.
The Competition and Markets Authority (CMA) will now examine the store offers, external.
Jim Mullen, the president of Ladbrokes, said: "The sale of these shops will clear the last significant hurdle to providing on the merger with Coral and paves the way for our concentrate on conclusion and rapidly providing on the opportunities the merger provides."
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The 2 bookmakers stated they would look for approval from the CMA to complete the merger once they sell one further store.
Market leader
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Ladbrokes and Gala Coral are the UK's second and third largest retail wagering firms, 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.
A merger in between the 2 would make them the UK's largest 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 competition and reinforce its online offering.
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It was extensively reported, external over the that William Hill plans to press ahead with the ₤ 4.5 bn deal despite misgivings from its largest shareholder.
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Ladbrokes-Coral should bet9ja's welcome offer 350-400 stores
26 July 2016
William Hill financier snubs merger strategy
14 October 2016
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Ladbrokes-Coral Sells Shops to Betfred and Stan James
romanbonney900 edited this page 2025-10-21 23:20:32 +08:00