The UK’s Competition and Market Authority would give green light to the merger provided that the operators fulfil some requirements.
UK.- The Competition and Market Authority (CMA) announced its decision to clear the way for Ladbrokes and Gala Coral merger provided that the British operators sell up to 400 betting shops across the United Kingdom.
The CMA is concerned that the size of merged company may negatively affect competition in the European country. Ladbrokes and Coral are the second and third biggest gambling firms in the UK. For this reason, the regulator required that between 350 and 400 betting shops will have to be sold out to complete the merger on a provisional level.
Ladbrokes said in a statement that this reflected a significant step forward in the whole consolidation process. The operator said it will focus its attention on working with the CMA to move the merger deal further forward. In fact, Ladbrokes has already started looking for suitable buyers to purchase the betting shops.
By the same token, Gala Coral stated that it will keep on working with the regulator to fulfil the necessary remedies for the merger’s clearance.