Gambling organisation Ladbrokes Coral is in talks over a takeover by online rival GVC, who own the Bwin and Sportingbet brands in a deal that could value the group at up to £3.9bn.
Under the proposals, GVC would hold 53.5% of the combined group.
Ladbrokes Coral became the UK’s biggest high street bookmaker following last year’s merger of Ladbrokes and Coral.
The maximum price GVC will pay will depend on the outcome of the government’s review of gaming machines. The Department of Culture, Media and Sport has said it will cap the size of stakes gamblers can make on fixed-odds betting terminals, due to concerns they may harm vulnerable people.
GVC and Ladbrokes Coral said that the review could impact on the profitability of Ladbrokes Coral’s UK business.
Ladbrokes Coral shares increased to 23% on news of the talks, while GVC’s were up by 4%.
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