Woolworths adviser may back Coles ALH bid

Stock in Australian Leisure and controlled by investment bank UBS, equal to about 10 per cent of the capital, may be the key block vote that determines whether Woolworths or Coles succeeds in their offer for the chain of pubs and bottle shops. UBS is adviser to Woolworths, but may consider itself obliged to vote in favour of the Coles offer, assuming that offer is the best at the time.

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