William Hill in talks to buy Stanley shops

William Hill is in talks to buy the UK and Irish betting shops of Stanley Leisure for over £500 million to become Britain's biggest…

William Hill is in talks to buy the UK and Irish betting shops of Stanley Leisure for over £500 million to become Britain's biggest bookmaker, the two firms said today.

Analysts said the price tag was high, and shares in Stanley rose 7 per cent.

William Hill shares faltered after it said the potential acquisition would delay plans announced last month to return £453 million to shareholders. Analysts also speculated that any deal could prompt a merger of Stanley's remaining casino assets with London Clubs International.

"Although there can be no certainty at this stage that a transaction will be agreed, the board of William Hill believes that the potential acquisition represents a particularly attractive opportunity for William Hill and should be evaluated before proceeding with the return of capital exercise," Britain's second-biggest bookmaker said.

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The deal would add around 600 shops to William Hill's existing chain of about 1,600 and move it ahead of current market leader, Hilton Group's Ladbrokes, which has just over 2,000.