Paddy Power Betfair merger: Betty Power gets the green light from the Competition and Markets Authority
The merger between betting giants Paddy Power and Betfair, dubbed Betty Power, has been given the green light by the UK regulator.
The Competition and Markets Authority launched an investigation into the deal in November and whether it would lessen competition in the market.
The bookies have cleared the hurdle and the CMA has now ruled that the merger can go ahead.
Betfair said it expects the merger to be completed during the first quarter of next year, creating the world's largest online gambling company with revenues of more than £1bn.
On Wednesday, the CMA said it may carry out a "fast track" investigation into the merger of bookmaker rivals Ladbrokes and Coral.