UK competition regulator clears GVC’s takeover of Ladbrokes Coral

Business News

The U.K.’s competition watchdog said Wednesday that it has cleared GVC Holdings PLC’s acquisition of bookmaking rival Ladbrokes Coral Group PLC.

The U.K.’s Competition & Markets Authority said the merger doesn’t give rise to competition concerns, as GVC only has a small presence in the U.K. via online services.

In a statement, the CMA said: GVC has a small presence in the UK and only offers services online. The CMA has found that GVC and Ladbrokes are not close rivals and there are many other providers of betting and gaming services online.

The CMA 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.