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British-based betting and gambling company Ladbrokes Coral began active negotiations on the takeover of GVC. Ladbrokes said that it had received a proposal from GVC that would give the bookmaker a total equity value of up to £3.9bn.
Ladbrokes Coral became the largest bookmaker in the UK after last year’s merger of Ladbrokes and Coral. According to the proposal, GVC, which owns the brands Bwin and Sportingbet, will hold 53.5% of the total group. Shares of Ladbrokes Coral jumped 23% after news of the talks, and GVC shares rose 4%.
«This deal makes complete strategic rationale. We’ve repeatedly said we were interested in consolidation, but I think this deal has a clever structure», – said Kenneth Andersson, CEO of GVC Group.
