The European Commission is planning a full investigation into the £200m proposed sale of the Tote, the state-owned pool betting company, to Racing Trust, controlled by the British horse-racing industry.
In particular, a source said that the EU was taking “a much closer look” at the Tote because, prior to the sale, the Department for Culture, Media and Sport would assume full control of the business, thus breaking European state-aid laws.
The EU\’s intervention could open the door to a private bid for the Tote, which owns 457 betting shops across the UK and turns over more than £600m.
CVC, Coral Eurobet and William Hill are known to be interested in the business that could be worth up to £500m.
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