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Dubai firm interested in Tote
Wigan-based bookies the Tote could be bought by a state-run investment firm from Dubai.
A "sovereign wealth fund" from the Middle East is one of 40 expressions of interest made to sales advisors working on the Government's behalf to sell the state-owned bookmaker and pools operator.
The news of potential buyers comes after Wigan's MP Neil Turner urged the Government to secure the 650 jobs at the Poolstock headquarters for a "considerable period" if Tote was bought by someone who already had a headquarters elsewhere.
Culture Minister Gerry Sutcliffe said he would meet with Mr Turner and Makerfield's MP Ian McCartney to discuss proposals.
In the House of Commons he told Mr Turner: "Clearly, we want to make sure that we protect as many jobs as possible and that will be a consideration when we look at the various options available."
It is understood that about half of the interests expressed are being taken seriously.
Earlier this year management at the Tote told the Evening Post they would be considering a management buyout to keep jobs in Wigan but declined to comment about the latest rumours speculating the firm's future.
Thousands of people work at the Tote's 540 shops around the country.
Among those that have expressed an interest in the past include bookmakers Betfred and Gala Coral.
But the worry in Wigan is that if another bookmaker with its own headquarters buys the Tote hundreds of jobs will be lost.
Mr Turner said: "I was pleased that the Minister confirmed his willingness to meet with Ian and myself to discuss the security of hundreds of jobs the Tote brings to Wigan.
"I want to ensure that ministers take into account the detailed points that we will make to secure the best possible outcome for staff and management based in Wigan.
"The Tote is an important employer for the Wigan economy."
Mr McCartney added: "We are determined that the Tote's future is not left to chance."
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Friday 25 May 2012
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