Ladbrokes and Coral will sell between 350 to 400 of their UK betting shops as part of their planned merger.
Britain’s Competition and Markets Authority said in May that such a sale could be required after it found that the proposed merger created competition concerns in several areas. The regulator then identified 642 local markets that the merger could result in “substantial lessening” of competition and confirmed that the betting shop sales would have to be completed before the merger can proceed.
Ladbrokes and Coral have agreed to sell the required number of stores to a suitable buyer to be approved by the CMA.
