Australia’s Tatts Group has told investors its $9 billion merger with rival Tabcorp will remain “on ice” due to concerns related to the bidding of Western Australia’s TAB network, local media reports.
Robbie Cooke, chief executive of Tatts Group said uncertainty over the response from the Australian Competition and Consumer Commission to a merged bid for WA’s TAB was to blame.
The two wagering giants shelved the merger in November last year after a disagreement over valuations.
The Western Australian government has reportedly be looking to fast-track the sale of its TAB agency, the last in Australia to be privatized.
Potential bidders for WA TAB’s $1 billion deal include Tatts Group and Tabcorp, who currently owns the other former government TABs throughout Australia.
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