A jockey rides past a TAB advertisment in Sydney. Melbourne-based Tabcorp, Australia’s biggest betting company, has a market value of A4.1bil. — Bloomberg
SYDNEY: Australia’s Tatts Group Limited and Tabcorp Holdings Ltd said they are in talks to create a A$9.34bil (US$7.1bil) betting industry giant, hoping to join forces to fend off popular online rivals.
An investment banker involved in the talks, who declined to be named as he was not authorised to speak publicly, said a transaction could be announced within the next two days.
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