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UNiTAB Fine with Tabcorp Merger

AUSTRALIA – As reported by the Australian Associated Press: "UNiTAB Ltd managing director Dick McIlwain says there are no hard feelings about Tabcorp Ltd's rival merger proposal with Tab Ltd, but the UNiTAB deal was more likely to win the favour of Australia's competition watchdog.

"Mr McIlwain said no `sour grapes' existed towards Tabcorp, however the Victorian wagering and gaming group's proposal might find it tough to get approval from the Australian Competition and Consumer Commission (ACCC).

"Mr McIlwain said a combined UNiTAB/Tab entity would carry less national market share, with 60 per cent of the wagering market, than a Tabcorp/Tab merged entity, with 80 per cent.

"…`We don't own casinos or other businesses in the states where we operate race wagering.

"`So I think it become easier for the ACCC to deal with a 60/40 than an 80/20 ... it's much easier for the ACCC to look at the combination that we're putting together, than the combination that's proposed by Tabcorp.'…"

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