Shares in Paddy Power owner Flutter Entertainment surged by almost 10% on the back of it winning UK regulatory approval for its proposed $6bn (€5.4bn) takeover of Canadian online betting business The Stars Group.

Paddy Power owner Flutter Entertainment is to pay its 2019 dividend to investors in the form of shares, rather than cash, as it looks to prudently manage its reserves in the face of industry uncertainty prompted by the Covid-19 outbreak.