Australia regulator gives nod to Tabcorp's $4.7b takeover of Tatts

Australia regulator gives nod to Tabcorp's $4.7b takeover of Tatts

The logo for Australian gambling company Tabcorp Holdings Ltd (TAB) is displayed outside a TAB branch in central Sydney, Australia, October 18, 2016. REUTERS/David Gray

An Australian tribunal said on Friday that it would let Tabcorp Holdings Ltd buy lotto giant Tatts Group Ltd for A$6.15 billion ($4.66 billion), after an antitrust regulator raised concerns about the deal. The Australian Competition Tribunal (ACT), affiliated with the Federal Court, said Tabcorp, the country’s biggest horse race betting house, must divest its Odyssey Gaming business in Queensland to complete the deal.

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