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Posted on Monday, June 19th, 2006
The British government has reportedly given up on its plan to sell the Tote at a discounted value to the Racing Trust following the European Commission’s investigation into whether such a sale would constitute an abuse of state aid rules.
The government nevertheless still wants to deliver on its manifesto commitment to sell the Tote to "racing," but to in order to do so and still comply with state aid rules, it must sell it at market value. The Commission began investigating the matter in June 2005 following lobbying efforts from private British bookmakers who were considered potential bidders for Tote betting shops.
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"British government set to abandon Tote sale to Racing Trust" was posted on Monday, June 19th, 2006 at 10:19 am and is filed under Horse Racing Industry, UK-Great Britain Horse Racing. You can follow any responses to this entry through the RSS 2.0 feed. Leave a response, or trackback from your own site.
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