Betfair and Paddy Power to Merge This February

by Sarah Lewis on 2016/01/21

Back in August 2015 Betfair and Paddy Power announced their plans to merge and since then they have been working hard to meet the requirements of the authorities. Both the Competition and Markets Authority in the UK and the Competition and Consumer Protection Commission in Ireland gave thumbs up to the merger which is set to become the biggest gambling business in both countries. Having cleared all regulatory requirements, the merger is set to take place in February 2016. The new company is expected to be worth £5 billion and will be listed on the London and Irish Stock Exchanges. Paddy Power will own 52% of the new company, while Betfair will hold the remaining 48%.