1 Ladbrokes-Coral Sells Shops to Betfred and Stan James
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Ladbrokes-Coral sells stores to Betfred and Stan James
bit.ly
17 October 2016
bet9ja.com
Ladbrokes and Coral have accepted bet9ja's welcome offer 359 stores to competing wagering firms in what they state is the "last substantial obstacle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will purchase 322 shops and Stan James the other 37 for an overall of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral must sell 350-400 look for their merger to be cleared.

The Competition and Markets Authority (CMA) will now examine the store deals, external.

Jim Mullen, the primary executive of Ladbrokes, said: "The sale of these stores will clear the last substantial difficulty to delivering on the merger with Coral and paves the method for our concentrate on completion and quickly delivering on the chances the merger uses."

The 2 bookies said they would seek approval from the CMA to finish the merger once they sell one additional shop.

Market leader
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Ladbrokes and Gala Coral are the UK's second and third largest retail 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 stores in Britain.
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A merger in 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 stay up to date with the competitors and reinforce its online offering.
bit.ly
It was extensively reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn bet9ja's welcome offer in spite of misgivings from its biggest investor.

Ladbrokes-Coral should sell 350-400 shops

26 July 2016

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

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