Ladbrokes' tie-up with Coral clears final hurdle
Ladbrokes is confident its merger with Gala Coral will be completed 'in the very near future' following final approval by the competition watchdog.
The Competition & Markets Authority (CMA) has given final approval to the proposed deal following an agreement by the bookmaker to dispose of 322 shops to Betfred, 37 to Stan James and one shop to Bet21 in sales totalling more than £55 million.
Ladbrokes chief executive Jim Mullen said: “I am delighted that the CMA has given approval to our merger with Coral.
“Both businesses are approaching the merger with good momentum and we are now focusing on completing the merger and delivering on the opportunities it offers.”
The £2.7 billion merger will create Britain’s largest bookmaking firm, overtaking rival William Hill. Ladbrokes operates around 2,200 sites across Britain and Northern Ireland, while Coral runs 1,850 shops.