The online gambling mega-merger of Flutter Entertainment and The Stars Group (TSG) has received a thumbs-up from the UK’s competition watchdog.

On Tuesday, the UK’s Competition and Markets Authority (CMA) announced that the proposed merger of the UK-listed Flutter and the Toronto/Nasdaq-listed TSG “will not worsen the offering to people who choose to bet online.” The news pushed the share prices of both companies up sharply on their respective exchanges.

In February, the CMA opened its investigation of the merger, which was announced last October, based on concerns that it might result in “a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”

The CMA said the evidence it gathered during its probe determined that, while the merging companies do completely closely, “they are among a number of close competitors” with whom online gambling customers “frequently open accounts and to whom they could easily switch.”