Dec 7, 2017

Ladbrokes Coral in £3.9bn takeover talks

Gambling giant Ladbrokes Coral is in "Detailed" talks over a takeover by online rival GVC over a deal which could value the group at up to £3.9bn. Under the proposals, GVC - which owns the Bwin and Sporting Bet brands - would hold 53.5% of the combined group. Ladbrokes Coral was formed last year following the merger of Ladbrokes and Coral. The maximum price GVC will pay will depend on the outcome of the government's review of gaming machines. GVC and Ladbrokes Coral said that the review could impact on the profitability of Ladbrokes Coral's UK business. Ladbrokes Coral said the enlarged group would be an "Online-led globally positioned" betting and gaming business that would benefit from a multi-brand, multi-channel strategy applied across some of the strongest brands in the sector.

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