Racing Post Launches Investigation into Spreadex’s Acquisition of Sporting Index

Racing Post Launches Investigation into Spreadex’s Acquisition of Sporting Index

French gambling company Francaise des Jeux (FDJ) has sold Sporting Index to Spreadex in a deal that was completed in November. However, the Competition and Markets Authority (CMA) announced on Tuesday that it has issued an initial enforcement order under the Enterprise Act 2002. The CMA is considering whether the sale has created a merger that could result in a substantial lessening of competition. The order includes conditions that Spreadex must adhere to until the proceedings are determined. These conditions prohibit actions that could lead to the integration of the two businesses without prior consent from the CMA. The order also states that the two businesses should operate separately, maintain their existing brand identities, and not integrate their IT systems, customer and supplier lists, or key staff. Spreadex has been contacted for comment.

Sporting Index was founded in 1992 and became a leading name in sports spread betting. It changed ownership multiple times before being bought by FDJ’s parent company Sporting Group in June 2019. Sporting Group also includes sports betting technology and trading service provider Sporting Solutions, which is still owned by FDJ. Spreadex, on the other hand, was formed in 1999 by former City trader Jonathan Hufford and is based in St Albans, Hertfordshire.

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