Consortium Fails in Tote Bid
17th December, 2007
The Racing Consortium has failed in a £340million bid to purchase the UK's state-owned Tote bookmakers according to some reports. After ministers ruled the bid too low, the government is now thought to be preparing an open makret sale.
Currently Coral is the favourite to make the aquisition, as neither William Hill nor Ladbrokes can bid on the firm due to competition laws already in place. Both companies would need to sell existing shops to make room for the aquisition.
