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Reuters
Reuters
Business

Australia's Tabcorp says competition watchdog extends review period

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

(Reuters) - Tabcorp Holdings Ltd <TAH.AX>, Australia's biggest horse racing and sports betting company, said on Thursday the Australian Competition Tribunal has extended its deadline to rule on Tabcorp's A$6.4 billion ($4.82 billion) deal to buy rival Tatts Group Ltd <TTS.AX>.

The Australian competition watchdog pushed out the deadline to Sept. 10, from June 13 previously, Tabcorp said in a statement.

Tabcorp agreed in October to acquire Tatts in an effort to fend off a growing challenge from overseas online rivals.

($1 = 1.3264 Australian dollars)

(Reporting by Sandhya Sampath in Bengaluru; Editing by Jane Wardell and Stephen Coates)

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