Welcome to Live View – Take the tour to learn more
Start Tour
There is currently 1 person viewing this thread.
06 Aug 12
19:19
Joined:
Date Joined:
05 Jan 10
6 August 2012
StockMarketWire.com - Betfred is selling betting shops in 25 areas to get allay competition concerns over its acquisition of the Tote.
The Office of Fair Trading said it had accepted undertakings from Betfred's parent Lightcatch to divest the 25 shops and as a result, the acquisition will not be referred to the Competition Commission.
The OFT found that the acquisition did not give rise to competition concerns at a national level, but that there was a realistic prospect that it would result in a substantial lessening of competition between betting shops in 25 local areas across the UK.
As Betfred offered divestments in each of these areas, the OFT announced that it was suspending its duty to refer the acquisition to the Competition Commission because it was considering whether to accept undertakings in lieu of a reference.
Under the terms of the undertakings, Betfred will sell the betting shops to Stan James (Abingdon) Limited.
Before accepting the undertakings, the OFT carefully assessed and consulted publicly on the undertaking proposals, including on the suitability of Stan James as a purchaser.
OFT senior director and decision maker in this case, Ali Nikpay, said: "The OFT was concerned that Betfred's acquisition of the Tote led to the elimination of, or a substantial lessening in, choice of betting shops for people in 25 local areas.
"The OFT believes that the sales to Stan James in each of these areas will ensure effective competition is restored in these areas."
Story provided by StockMarketWire.com
StockMarketWire.com - Betfred is selling betting shops in 25 areas to get allay competition concerns over its acquisition of the Tote.
The Office of Fair Trading said it had accepted undertakings from Betfred's parent Lightcatch to divest the 25 shops and as a result, the acquisition will not be referred to the Competition Commission.
The OFT found that the acquisition did not give rise to competition concerns at a national level, but that there was a realistic prospect that it would result in a substantial lessening of competition between betting shops in 25 local areas across the UK.
As Betfred offered divestments in each of these areas, the OFT announced that it was suspending its duty to refer the acquisition to the Competition Commission because it was considering whether to accept undertakings in lieu of a reference.
Under the terms of the undertakings, Betfred will sell the betting shops to Stan James (Abingdon) Limited.
Before accepting the undertakings, the OFT carefully assessed and consulted publicly on the undertaking proposals, including on the suitability of Stan James as a purchaser.
OFT senior director and decision maker in this case, Ali Nikpay, said: "The OFT was concerned that Betfred's acquisition of the Tote led to the elimination of, or a substantial lessening in, choice of betting shops for people in 25 local areas.
"The OFT believes that the sales to Stan James in each of these areas will ensure effective competition is restored in these areas."
Story provided by StockMarketWire.com
Show More
Is it now the big four then with Lads, Coral, Hills and Fred?
Lucky punters in the areas where SidJames are taking over.House prices will rise as well...
Post Your Reply
Please login to post a reply.
Wonder
Instance ID: 13539