Tote Tasmania’s Sale Plans In Turmoil

The Tasmanian Government may float the state’s Tote on the stock market after failing to find a buyer during a protracted bidding process.In a statement, Treasurer Michael Aird said two binding formal bids received when the window for formal tenders closed last week did not value Tote Tasmania at a “fair and reasonable” price.

However, he insisted the sales process would continue on the open market and could possibly involve a public float.

He said abandoning the private bidding process after months of haggling sent a message that the Tote would not be sold cheaply.

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