Tag Archives: UK CMA

Ladbrokes Coral need to sell 350-400 shops for merger approval

The UK Competition & Markets Authority (CMA) has said it will allow Ladbrokes and Gala Coral to continue with their merger plans, but only if the firms divest 350-400 betting shops. The proposed merger would create Britain’s biggest bookmaker with around 4,000 betting shops, but the CMA has identified 659 areas across the country where the deal could harm competition. …

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Heavy Load! Ladbrokes posts £37 million in losses for 2015

Increased costs combined with the extra burden of betting taxes have seen Ladbrokes Plc post full-year 2015 (period ending 31 December 2015) group losses of £43 million, detailing a corporate decline from 2014’s profits of £37.7 million. Outlining 2015 impacts, Ladbrokes governance detailed that the company had paid circa £50 million in taxes due to increased duties on machine gaming …

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William Hill warns against Ladbrokes-Coral tie-up

Issuing a corporate submission regarding the planned £2.3 billion merger of Ladbrokes-Coral, William Hill has warned the UK Competitions & Markets Authority (UK CMA) that the creation of a merged enterprise will negatively undermine the overall UK betting industry. William Hill the UK’s biggest retail bookmaker, has urged the UK CMA to terminate the tie-up of Britain’s second and third …

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UK CMA says NO to ‘Playtech influence’ investigation in Ladbrokes-Coral merger

Publishing an official statement regarding the merger of Ladbrokes-Coral, the UK Competition & Markets Authority (UK CMA) has declared that it will not investigate the position of industry technology provider Playtech Plc and any influence it may have on the deal. The UK CMA who are undertaking a Phase 2 review of Ladbrokes-Coral, were addressing concerns raised by a third …

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UK CMA grants Ladbrokes-Coral phase 2 fast track

The UK Competition & Markets Authority (UK CMA) has granted approval to the proposed fast-track of the planned Ladbrokes-Coral merger. The agreed deal which gained a 96% investor backing in December, will now be forwarded for an in-depth phase 2 investigation of Ladbrokes merger with Gala Coral assets, which includes Coral UK, Eurobet Retail and Gala Coral’s digital division. The …

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Paddy Power Betfair gets shareholders’ YES vote

There will be no time to celebrate Christmas for Paddy Power and Betfair governances as the shareholders of both companies have agreed outright to approve the £6.2 billion merger deal. Holding simultaneous ‘extraordinary meetings’ on Monday 21 December in which shareholders filed their votes, the merger deal saw a 99% investor approval, gaining a further significant step towards the creation of …

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Scott Longley – Don’t panic…Ladbrokes-Coral faces up to the competition authorities

Scott Longley assesses the upcoming UK CMA review of the Ladbrokes-Coral merger and how the deal will shake-up all sections of the UK betting sector. The phony war is over. The announcement yesterday that the £2.3bn Ladbrokes Coral merger has been officially notified to the Competition and Markets Authority (CMA) means we now have something of a timetable for whether …

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Paddy Power – Betfair clears UK CMA review

  Following its commentary invitation and review of the merger of Paddy Power – Betfair, the UK Competition & Markets Authority (UK CMA) has officially cleared the £6.2 billion deal. The Paddy Power-Betfair merger clears its most important regulatory hurdle, which had been placed under review by the UK CMA in November and opened to public and industry commentary. The …

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Ladbrokes – Coral seeks UK CMA regulatory fast track

Having gained a 90% Ladbrokes shareholder approval, the UK Competition & Markets Authority (UK CMA) has opened its invitation for comment on the proposed £2.3 billion merger of Ladbrokes-Coral. The UK CMA has requested for assistance regarding its review of the planned merger, seeking to research whether a joint enterprise may result in a substantial impacting of commercial competition within …

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Paddy Power to send Betfair merger prospectus to investors

Shareholders in Paddy Power will receive a detailed prospectus outlining plans and initiatives for the company’s planned £6.4 billion merger with rival Betfair. Investors are set to receive the prospectus, ahead of voting on the deal at an extraordinary general meeting. At present, Ireland’s Competition and Consumer Protection Commission’s (CCPC) is set to complete its Phase 1 competitor review by …

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