Ladbrokes and Gala Coral told to sell shops for merger clearance

Bookmakers Ladbrokes and Gala Coral will have to sell between 350 and 400 shops to win clearance for their UK merger, the British competition regulator has said.

Shares in Ladbrokes rose to an 11-week high after the findings by the UK’s Competition and Markets Authority, which were less onerous than some analysts had feared.

They surged as much as 10% at one stage.