Paddy Power Betfair cleared by Irish regulator
The merger between Paddy Power and Betfair has been cleared by Ireland’s competition regulator.
The Competition and Consumer Protection Commission (CCPC), which had to rule on the deal because Paddy Power is listed in Ireland, announced on Friday that it would not stand in the way of the €7.1 billion ($7.6 billion) merger.
In light of the CCPC clearance, the two companies now expect the combined Paddy Power Betfair to begin trading on February 2.
Shareholders of both firms agreed to the merger in December, with clearance from the UK Competition and Markets Authority (CMA) announced during the same month.
The CCPC said in a statement: “The Commission has formed the view that the proposed transaction will not substantially lessen competition in any market for goods or services in the state.”
Related article: Shareholders approve Paddy Power Betfair merger