Ireland's largest bookmaker, Paddy Power, has announced plans to merge with online gambling firm Betfair.
A statement this morning says the proposed merger would create one of the world's largest public online and betting companies, with combined revenues of more than 1.5 billion euro.
Discussions are said to be ongoing and both firms are expected to make further statements in the coming weeks.
The new group will be called Paddy Power-Betfair.
Business Journalist Vincent Wall says the merger will make the company a leading player in the worldwide betting market:
