The CMA has referred the proposed merger between Ladbrokes and Coral for an in-depth phase 2 investigation. This follows the parties’ request for a fast track reference. The CMA found in its phase 1 investigation that the transaction meets the test for reference as it gives rise to a realistic prospect of a substantial lessening of competition in relation to the supply of fixed odds betting products in licensed betting offices in a large number of local areas where Ladbrokes and Coral overlap. Click here.