Primary Health Care has lashed out at Symbion after the company rebuffed its latest attempt to buy some of assets. Primary says Symbion Health's decision on Wednesday to reject its new proposal is regrettable and questioned whether the company was acting in the best interests of shareholders. The comments are the latest in a bitter battle between rival Healthscope and Primary for control of Symbion's valuable medical testing assets in a consolidating sector. On Monday, Symbion agreed to a revised tie-up plan with Healthscope and its private equity partners after Primary derailed nearly a $3 billion deal between the two companies last month. Primary's earnings have grown steadily since 2003.
New South Wales could see another casino in the state if a deal between Tabcorp Holdings and the New South Wales government goes ahead. News Limited reports that the owner of Sydney's star City has been in talks with the government to relinquish its exclusivity rights in exchange for reduced gaming tax rates. The government wants to rise the tax on slot games from 24.5 per cent up to 30. News Limited says Tabcorp's 12-year licence was due to expire last month but has been extended as the government considers the proposal. Tabcorp's profit highlight over the past five years was in 2006.
Telstra has lost a Federal Court bid to force Communications Minister Senator Helen Coonan to release secrete documents on the awarding of a $958 million contract to provide broadband services in the bush. Telstra wanted details of how the OPEL consortium led by Optus and Elders received $358 million in additional funding from the government to build the network. But Justice Peter Graham dismissed Telstra's application, finding the company didn't need to be told the extra money was available because its original bid was non-compliant. Telstra has been ordered to pay the minister's legal costs. Over the past five years Telstra's best profit was in 2005.
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