Paddy Power not decided on the level of redundancies ahead of Betfair merger

Paddy Power’s management has said it will not decide on the level of redundancies stemming from its near €7bn merger with UK rival Betfair until completion of the deal in the first quarter of 2016.

Speaking after yesterday’s EGM, where the company’s shareholders unanimously voted in favour of the deal, Paddy Power chief executive, Andy McCue said that management hadn’t decided on how synergies might affect the workforce and that no integration planning would commence until the deal was complete.

He remarked that Betfair technically remains a competitor until that date, which should fall before the end of March.