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'.