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UK competition regulator clears GVC's takeover of Ladbrokes Coral

Reuters

(Reuters) - Britain's Competition and Markets Authority (CMA) cleared online gambling firm GVC Holdings Plc's (GVC.L) acquisition of Ladbrokes Coral Group Plc (LCL.L) on Wednesday, saying the merger did not raise competition concerns.

GVC agreed in December to take over leading British bookmaker Ladbrokes Coral for up to 4 billion pounds.

"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 competition regulator said.

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Subhranshu Sahu)