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Competition And Markets Authority Clears Way For Paddy Power Betfair

Thu, 17th Dec 2015 12:59

LONDON (Alliance News) - Betfair Group PLC and Paddy Power PLC both received a boost on Thursday after the UK's anti-trust regulator cleared the way for the two bookmakers to complete their all-share merger.

The two gambling giants plan to complete the merger in the first quarter of 2016, creating one of the world's largest online gambling business, refreshed with the new name Paddy Power Betfair, which will boast annual revenue of around GBP1.10 billion.

Betfair shares were trading up 1% to 3,790.0 pence on Thursday afternoon whilst Paddy Power shares were up 1.1% to 121.48p.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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Competition And Markets Authority Clears Way For Paddy Power Betfair

London midday: Resource stocks a drag

London open: Lower start for FTSE 100

Paddy Power H1 profit declines

Paddy Power non-exec trims stake

Business picking up at Paddy Power

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