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Island-based firm targets £4bn takeover deal

GVC eyes Ladbrokes Coral acquisition

Bookmaker Ladbrokes Coral has agreed to a multi-billion pound takeover by an Island-based firm.

GVC - headquartered in Athol Street in Douglas - currently owns Bwin, Sportingbet and Foxy Bingo.

It's now looking to acquire Ladbrokes Coral for a deal thought to be worth £4billion for a 53.5 per cent stake.

Chief Executive Kenneth Alexander described the move as 'a truly exciting prospect'.

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