ladbrokes-coral-sells-shops-to-betfred-and-stan-james

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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 concurred to bet9ja's welcome offer 359 stores to rival wagering firms in what they say is the "last considerable hurdle" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will buy 322 stores and the other 37 for an overall of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral need to sell 350-400 stores for their merger to be cleared.

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

Jim Mullen, the primary executive of Ladbrokes, stated: "The sale of these shops will clear the last considerable hurdle to providing on the merger with Coral and paves the method for our concentrate on conclusion and quickly delivering on the opportunities the merger provides."

The 2 bookmakers stated they would seek approval from the CMA to complete the merger once they sell one more store.
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Market leader

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

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 between the yohaig code 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 keep up with the competition and bolster its online offering.

It was commonly reported, external over the weekend that William Hill plans to push ahead with the yohaig code ₤ 4.5 bn bet9ja's welcome offer regardless of misgivings from its biggest shareholder.

Ladbrokes-Coral should offer 350-400 shops

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