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Bookmaker GVC in talks to buy Ladbrokes for up to $5.2 billion

Reuters  |  LONDON 

LONDON (Reuters) - Bookmaker GVC Holdings has offered to buy Ladbrokes Coral for up to 3.9 billion pounds ($5.2 billion) to create a betting giant able to cope with the tougher rules being imposed by the British government.In a joint statement the two groups said they were in detailed talks over a deal that would give Ladbrokes Coral shareholders around 46.5 percent of the combined group, with GVC shareholders holding the rest.The Isle of Man-based GVC, which has grown rapidly into one of Britain's biggest online gambling companies, and high street-based Ladbrokes held talks about a deal ...

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First Published: Thu, December 07 2017. 13:16 IST