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Flutter merger with Stars Group receives approval from Australian regulators

The Australian Competition and Consumer Commission had granted informal approval for the combination, which will now await the green light from the country's Foreign Investment Review Board

Flutter Entertainment PLC - Flutter merger with Stars Group receives approval from Australian regulators

Flutter Entertainment PLC (LON:FLTR) has said that its merger with Canadian poker giant The Stars Group Inc has been approved by Australian regulators.

The FTSE 100 owner of Paddy Power and Betfair said the Australian Competition and Consumer Commission had granted informal approval for the merger.

READ: Flutter's merger with Canada's Stars faces UK competition probe

The deal will now await the green light from the Australian Foreign Investment Review Board as well as other international regulators including the UK’s Competition and Markets Authority.

Flutter and Stars agreed an all-share merger in October that, if completed, will create the world’s largest online betting and gaming operator, with combined revenues of £3.8bn and total market capitalisation of more than £11bn at current share prices.

Flutter shares were up 1% at 8,612p in early deals.

--Adds share price--

Quick facts: Flutter Entertainment PLC

Price: 11085 GBX

LSE:FLTR
Market: LSE
Market Cap: £17.14 billion
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