Financial Times FT.com

U-turn means Tote will now be sold at market value

By Matthew Garrahan

Published: May 5 2006 03:00 | Last updated: May 5 2006 03:00

Sale terms for the Tote, the state-owned pool betting operator, have been changed after the government bowed to pressure from the European Commission

Plans to sell the Tote to the horseracing industry at a "fair value" triggered a Commission investigation over concerns that the deal would involve substantial state aid.

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