![]() ![]() ![]() Ladbrokes agreed the terms of its all-share merger with Coral in July 2015 and its shareholders backed the deal in November. Jim Mullen, Ladbrokes’ chief executive, said: “The sale of these shops will clear the last significant hurdle to delivering on the merger with Coral and paves the way for our focus on completion and quickly delivering on the opportunities the merger offers.” When it ordered the companies to sell shops the CMA said the merger could reduce the number of discounts and free bets offered by bookmakers competing locally and lead to betting odds, which are set nationally, less favourable for customers. A Ladbrokes spokesman said, based on talks with the CMA, the companies believed the sales would meet the regulator’s concerns about competition in specific locations. Ladbrokes said the companies would ask the CMA to approve the merger based on the planned sales and talks to offload one more shop. ![]() Ladbrokes has about 2,100 UK shops and Gala Coral has 1,800, meaning the combined company would overtake William Hill, with almost 2,400, as Britain’s biggest bookmaker by number of stores. The Competition and Markets Authority (CMA) has ordered the companies to sell 350-400 shops to ensure customers have a choice of bookmakers in a large number of local areas. ![]()
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