Bookmaking chain, Ladbrokes has confirmed that it is in merger talks with rival Gala Coral regarding a deal to create the largest bookmaker in the UK.
Ladbrokes would acquire Gala Coral’s 1,800 Coral-branded shops, its online business and Italian brand Eurobet.
Ladbrokes' management have been restructuring the business following some big losses, including an £8.1m loss on Boxing Day football, although the group managed to return to growth with 30% operating profit growth in the second half of 2014.
New Managing Director, Jim Mullen, who took over from Richard Glynn on 1 April, was initially set to detail his review of the company on 30 June, but this could now be rescheduled as discussions progress.