Friday September 25, 2020

British watchdog clears Paddy Power owner’s merger

Flutter’s tie-up with The Stars Group will not worsen offering for online gamblers, competition authority finds

Aaron Rogan

News Correspondent

@aarrogan
31st March, 2020
Flutter warned last week that its projections for 2020 would be adversely affected by the cancellation of sporting events due to the Covid-19 pandemic. Picture: PA

Paddy Power-Betfair owner Flutter’s merger with a Canadian firm to create the biggest online gambling operation in the world has been cleared by the British competition watchdog.

Flutter Entertainment announced the plan to merge with The Stars Group (TSG) in October. The €4.5 billion all-share deal will have Flutter shareholders controlling 54 per cent of the combined business, which will look to grow in the US and extend its position as one of...

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