UK: CMA clears GVC-Ladbrokes merger

Britain’s Competition and Markets Authority (CMA) cleared online gambling firm GVC Holdings acquisition of Ladbrokes Coral Group on Wednesday, saying the merger did not raise competition concerns.

The Competition and Markets Authority decided that because GVC’s business was entirely online there were no fears about a reduction in competition for UK consumers once it snaps up Ladbrokes Coral.

The competition watchdog added that GVC and Ladbrokes are “not close rivals and there are many other providers of betting and gaming services online”.

It said its probe “looked closely at betting services for individual sports and individual games but found that, in all cases, there will be enough rivals to the merged entity to prevent price increases or a reduced quality of service as a result of the merger”.

It sees the deal clear the last hurdle, after shareholders at GVC and Ladbrokes voted to approve the merger earlier this month.

Full Content: Independent

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