Welcome Trust’s £1B Bid Rejected

Welcome Trust’s £1 billion bid for the acquisition ofOlympic Parkhas been declined,金融时报》reports. Ministers have refused the proposal as the deal does not provide taxpayers satisfactory value for money. Launching a new auction for theOlympic Villageand the park may postpone reopening of the park after the 2012 Olympics.

The U.K. charity firm intended to use profits from the village to partially finance development of the park. TheOlympic Delivery Authorityhas built the park and is conducting the sale on behalf of the government to raise £500 million.

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