Ladbrokes-Coral offers stores to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually accepted sell 359 shops to competing betting firms in what they state is the yohaig code "last considerable obstacle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will purchase 322 stores and Stan James the other 37 for an overall of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral should bet9ja's welcome offer 350-400 look for their merger to be cleared.

The Competition and Markets Authority (CMA) will now evaluate the store offers, external.

Jim Mullen, the chief executive of Ladbrokes, said: "The sale of these shops will clear the last substantial hurdle to providing on the merger with Coral and paves the yohaig code method for our focus on conclusion and rapidly delivering on the yohaig code opportunities the merger offers."

The 2 bookmakers said they would look for approval from the CMA to complete the merger once they bet9ja's welcome offer one additional shop.

Market leader

Ladbrokes and Gala Coral are the UK's 2nd and third biggest retail betting companies, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 shops in Britain.

A merger between the two would make them the UK's largest 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 strengthen its online offering.

It was commonly reported, external over the weekend that William Hill prepares to press ahead with the ₤ 4.5 bn deal despite misgivings from its biggest investor.

Ladbrokes-Coral must sell 350-400 shops

26 July 2016

William Hill investor snubs merger plan

14 October 2016

Investors - Ladbrokes plc