CMA grants clearance to Betfair-Paddy Power merger

CMA grants clearance to Betfair-Paddy Power mergerThe UK Competition and Markets Authority (CMA) has given its clearance to the proposed merger between Betfair and Paddy Power.

The operators in August unveiled plans to merge in a move that could create a combined company worth as much as £5.8 billion (€8 billion/$8.7 billion).

The CMA in November published invitation to comment on the proposed merger, setting a deadline of November 20 for comments regarding the deal.

In a statement confirming the approval, Betfair said that the merger is on track to go through as planned during the first quarter of 2016.

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