CMA to probe mooted GVC, Ladbrokes Coral deal
The UK Competition and Markets Authority (CMA) is to investigate the proposed acquisition by GVC Holdings of Ladbrokes Coral Group.
In a statement, the CMA said that it will look at whether the merger will lead to a “substantial lessening of competition” in the UK gambling market.
In December, GVC agreed to purchase Ladbrokes Coral in a deal worth as much as £4bn (€4.5bn/$5.5bn) and combine the two businesses.
GVC last month said that it hoped the transaction would go through before the end of the first quarter or early in the second quarter.
Should GVC proceed with the purchase, its shareholders would own 53.5% of the combined group, with Ladbrokes Coral holding the remaining 46.5%.
GVC already owns the Bwin, Sportingbet and Foxy Bingo brands.
The CMA is inviting comment on the investigation through to February 21.