Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

26th Oct 2016 15:57

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of 322 shops to Betfred, 37 to Stan James and one shop to Bet21.Ladbrokes said it will publish a prospectus in relation to the readmission of the enlarged group and said it expected completion of the merger "will take place in the very near future".Chief executive Jim Mullen said: "I am delighted that the CMA has given approval to our merger with Coral."Both businesses are approaching the merger with good momentum and we are now focusing on completing the merger and delivering on the opportunities it offers."Shares in Ladbrokes, which have fallen 17% from their 12-month peak reached in August, were down modestly on Wednesday afternoon to 133.0p.