Ladbrokes-Coral Sells Shops to Betfred and Stan James

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

Ladbrokes and Coral have actually consented to sell 359 shops to rival betting companies in what they say is the "last substantial hurdle" 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 a total of ₤ 55.5 m.
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ruled in July that Ladbrokes and Coral should sell 350-400 stores for their merger to be cleared.

The Competition and Markets Authority (CMA) will now assess the shop deals, external.
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Jim Mullen, the yohaig code chief executive of Ladbrokes, said: "The sale of these shops will clear the last significant obstacle to providing on the merger with Coral and leads the way for our concentrate on conclusion and quickly delivering on the chances the merger provides."

The 2 bookmakers said they would seek approval from the CMA to complete the merger once they sell one further shop.

Market leader

Ladbrokes and Gala Coral are the yohaig code UK's 2nd 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 between the 2 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 keep up with the competition and bolster its online offering.

It was widely reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn offer despite misgivings from its biggest shareholder.
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Ladbrokes-Coral need to bet9ja's welcome offer 350-400 stores
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26 July 2016
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William Hill financier snubs merger strategy

14 October 2016

Investors - Ladbrokes plc
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