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Tolls palms off Fox’s Freight Australia fears

<p>Pacific National’s co-owner Toll Holdings remains confident that a bid to buy Freight Australia will prevail despite the objections of trucking tycoon Lindsay Fox.</p> <p>Toll rejected Mr Fox’s fears that the purchase of Freight Australia would result in a rail monopoly in Australia, the <em>Herald Sun</em> reported.</p> <p>"The Victorian rail assets [of Freight Australia&#93 are essentially a rural bulk asset," Toll managing director Paul Little said.</p> <p>"Eighty per cent of the income received by the Victorian rail business is carting bulk grain, and it is on the broad gauge network."</p> <p>Both the Australian Consumer and Competition Commission (ACCC) and the Victorian Government need to approve the purchase for the deal to go ahead. </p> <p>Mr Little said he believed Pacific National could "work through an outcome" with the Victorian Government, the <em>Herald Sun</em> said. </p> <br />