CrownBet joins the fight against Tabcorp-Tatts merger
In yet another attempt to annul the recent decision from the Australian Competition Tribunal approving the Tabcorp-Tatts Group merger, CrownBet has joined the battle in launching its own appeal.
A spokesman for the company said: “CrownBet maintains that the proposed merger is bad for punters and competition. We have taken this step to ensure the detriments arising from the merger are properly considered.”
The move follows the Australian Competition and Consumer Commission’s application to the Federal Court earlier this week for a judicial review of the tribunal’s consent over the $11bn merger.
The Australian Competition and Consumer Commission’s application claims the tribunal may have made three errors of law in its decision. It is believed that CrownBet’s application has the same basis as that of the ACCC.
“The ACCC is alleging the tribunal made three reviewable errors,” ACCC Chairman, Rod Sims said. “It is therefore seeking clarification of these three points of law, which are central to the tribunal’s assessment of Tabcorp’s proposed acquisition of Tatts.”
Tabcorp has already said it will oppose the ACCC’s application and that Tabcorp and Tatts remained committed to their proposed merger.
Furthermore, in a statement earlier today, Tabcorp governance said: “Tabcorp confirms that it will also oppose the CrownBet application and will pursue an expedited hearing of the matter.”
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