William Hill has started the compulsory acquisition of shares of Mr Green & Co AB, after its control of the takeover target reached 98.5%.

William Hill agreed the SEK2.82 billion, about GBP 242 million, takeover at the end of October.

Mr Green operates in regulated markets under brands including Redbet and holds gambling licences in Denmark, Italy, Latvia, Malta, the UK and Ireland, and expects to obtain permission to operate in Sweden by year-end.

The combination of William Hill and Mr Green will create a “strongly positioned combined business” with a pan-European footprint in online betting and gaming markets, the firms said, alongside operations in the UK and the US.