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Ladbrokes-Coral offers shops to Betfred and Stan James
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17 October 2016
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Ladbrokes and Coral have actually consented to bet9ja's welcome offer 359 shops to competing wagering companies in what they state is the "last substantial hurdle" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will purchase 322 stores and Stan James the other 37 for a total of ₤ 55.5 m.
Competition regulators ruled in July that Ladbrokes and Coral should sell 350-400 purchase their merger to be cleared.
The Competition and Markets Authority (CMA) will now examine the store deals, external.
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Jim Mullen, the yohaig code president of Ladbrokes, stated: "The sale of these stores will clear the last significant hurdle to providing on the merger with Coral and paves the way for our concentrate on conclusion and rapidly delivering on the chances the merger offers."
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The two bookmakers said they would look for approval from the CMA to complete the merger once they bet9ja's welcome offer one further shop.
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Market leader
Ladbrokes and Gala Coral are the UK's 2nd and third largest retail betting companies, behind William Hill.
Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.
A merger between the 2 would make them the UK's biggest High .
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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 bolster its online offering.
It was extensively reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn offer regardless of misgivings from its largest shareholder.
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Ladbrokes-Coral should offer 350-400 stores
26 July 2016
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William Hill investor snubs merger plan
14 October 2016
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Ladbrokes-Coral Sells Shops to Betfred and Stan James
wadefair001766 edited this page 2025-10-21 12:13:03 +08:00