Ladbrokes-Coral Sells Shops to Betfred and Stan James

bet9ja.com
Ladbrokes-Coral offers stores to Betfred and Stan James
bet9ja.com
17 October 2016
bet9ja.com
Ladbrokes and Coral have actually accepted sell 359 shops to competing wagering firms in what they state is the "last considerable obstacle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will buy 322 shops and Stan James the other 37 for an overall of ₤ 55.5 m.
bet9ja.com
Competition regulators ruled in July that Ladbrokes and Coral need to sell 350-400 purchase their merger to be cleared.
bet9ja.com
The Competition and Markets Authority (CMA) will now examine the shop offers, external.

Jim Mullen, the president of Ladbrokes, stated: "The sale of these stores will clear the yohaig code last considerable hurdle to providing on the merger with Coral and paves the yohaig code method for our concentrate on completion and quickly delivering on the yohaig code opportunities the merger provides."

The two they would seek approval from the CMA to finish the merger once they sell one more store.

Market leader

Ladbrokes and Gala Coral are the UK's second 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 stores in Britain.

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

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the yohaig code PokerStars franchise, to stay up to date with the competition and bolster its online offering.

It was extensively reported, external over the weekend that William Hill plans to press ahead with the ₤ 4.5 bn deal despite misgivings from its largest shareholder.

Ladbrokes-Coral must bet9ja's welcome offer 350-400 stores
bet9ja.com
26 July 2016

William Hill financier snubs merger strategy
bet9ja.com
14 October 2016

Investors - Ladbrokes plc
bet9ja.com