UK CMA to review proposed Paddy Power-Betfair merger

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The UK Competition and Markets Authority (CMA) has published invitation to comment on the proposed merger between rival betting companies Paddy Power and Betfair.

As reported by iGaming Business, the two operators in August announced that they had agreed a deal to merge and create a combined business worth around £6.2 billion (€8.7 billion/$9.4 billion).

Should the merger go ahead, Paddy Power shareholders would own 52% of the company, with Betfair shareholders owning 48% of the issued share capital.

While talks between Paddy Power and Betfair are ongoing, the CMA has now requested assistance for its review of the proposed merger.

The CMA invites any parties with concerns over the deal to get in touch, with any comments to be submitted for review by November 20.

“Considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002,” the CMA said in a statement.

“If so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”

The CMA expects to deliver its decision over the deal by January 7.

source: igamingbusiness.com

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