Monday, September 18, 2006

Bidding for the Tote commences

Channel 4's Teletext service reported yesterday that a consortium of racing industry groups had tabled a bid to buy the Tote.

The bid came in at roughly £350 million. The Tote's assets are thought to be worth in the region of £400 million. We can expect to see other bids landing on the table from private equity companies in due course.

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