Yesterday it was announced that the proposed Ladbrokes Coral Merger would proceed following the combined sale of betting shops to meet regulatory requirements.
Ladbrokes Coral Merger Approved by CMA
The proposed merger has finally been approved by the Competition and Markets Authority (CMA).
The merger had been almost approved by the CMA subject to Ladbrokes and Gala Coral have agreeing to sell 359 betting shops to rival bookmakers to meet the regulators requirements. This week Coral and Coral said they would sell 322 shops to Betfred for £55m in cash and a further 37 to Stan James for £500,000. After the merger, Coral will sell 174 shops and Ladbrokes will sell 185.