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Ladbrokes and Gala Coral in Merger Discussions

UK betting giants Ladbrokes and Gala Coral have announced that they are formally engaged in merger talks, revealing some key details on a potential deal.

The talks were announced in a statement by Ladbrokes, and would see Ladbrokes, Coral Retail, Eurobet Retail, and Gala Coral's online betting sites all being merged into one mega-firm. The combined businesses would be listed on the London Stock Exchange.

Commenting on the talks Ladbrokes CEO Jim Mullen said, “Since becoming CEO my focus has been on a more aggressive plan to build digital scale and grow our recreational customer base across all channels, which is key to creating a more sustainable and growing Ladbrokes. My plans are well advanced and I look forward to presenting them to shareholders."

"A merger with Gala Coral could create a combined business with significant scale and has the potential to generate substantial cost synergies, creating value for both companies’ shareholders."

"The Board has not yet concluded whether a transaction is strategically attractive and can be delivered to shareholders on appropriate terms.”

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