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Lloyds TSB to reconsider underwriting the £400m bid for the Tote

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The Financial Times reports that worsened market conditions could influence the decision of Lloyds TSB to provide the financing for the acquisition of the state-owned bookmaker. According to insiders close to the transaction, the Lloyds TSB’s debt package could prove to be more of a problem than the contribution to be raised by the racing industry.

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