The UK Competition and Markets Authority (CMA) on Wednesday updated its administrative timetable to extend the timescale for the publication of their provisional findings and possible remedies (if required) related to the investigation of the proposed merger of Ladbrokes and Coral.
Gaming and betting provider Ladbrokes PLC (LON:LAD), which today published a Q1 2016 trading update, confirmed that the time for publication of the provisional findings has been pushed until mid-May. Previously, these findings were expected to be revealed in late April.
Ladbrokes reiterated today that it continues to work with the CMA and that the company remains confident of its case for the merger.
The proposed deal was first unveiled in July 2015 and secured shareholders’ approval in November in the face of stark criticism from one of Ladbrokes’ shareholders – Dermot Desmond.