Ladbrokes Coral in £3.9bn takeover talks

Latest news

    Ladbrokes storeImage copyright Getty Images

    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.

    The Department of Culture, Media and Sport has said it will cap the size of stakes gamblers can make on fixed-odds betting terminals, amid concerns they may harm vulnerable people.

    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.

    View the original article: http://www.bbc.co.uk/news/business-42263157

    “The enlarged group would be geographically diversified with a large portfolio of businesses across both regulated and developing markets, with the scale and resources to address the dynamics of a rapidly changing global industry.”

    In the same category are

    The Papers: Cipriani’s court date and family’s bridge escape By BBC News Staff Image copyright Metro Image caption The arrest - and subsequent charging - of England rugby star Danny Cipriani over an allege...
    New Zealand bans sales of homes to foreigners Image copyright Getty Images Image caption New Zealand is facing a housing affordability crisis New Zealand's parliament has banned many foreigner...
    Super Cup: Late goals give Atletico victory over Real Saul and Koke's fantastic strikes in extra-time gave Atletico Madrid victoryReal Madrid began life without Cristiano Ronaldo and Zinedine Zidane with...
    Garbine Muguruza: Spanish defending champion beaten by Lesia Tsurenko in Cincinnati Muguruza won her first Grand Slam with the French Open in 2016, adding the Wimbledon title in 2017Two-time Grand Slam winner Garbine Muguruza suffere...
    Face transplant: A ‘second chance’ for young suicide survivor Image copyright Family/Martin Schoeller Image caption The procedure was done in May 2017 by 11 surgeons at the Cleveland Clinic in Ohio Katie Stu...
    Former India captain Ajit Wadekar dies aged 71 Ajit Wadekar batting at The Oval in 1971Former India Test and One Day International captain Ajit Wadekar has died at the age of 77.The former batsman...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.