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Multiplex opts out of Games bid

NEWS

MULTIPLEX has ruled itself out of the running to build the main stadium for London's 2012 Olympic Games.

The company is already set to lose nearly £50 million on its troubled scheme to build the new Wembley stadium in north London.

A company spokesman said: 'We will not be bidding for the Olympic stadium.' Industry sources said last week that only three contractors were in with a realistic chance of taking the deal, which comes with an estimated £250 million price-tag: Sir Robert McAlpine, Laing O'Rourke and Taylor Woodrow.

The source, who works for one of the three, said: 'It is very hard to look beyond those three for the shortlist, and you'd have to say that of the three, Laing O'Rourke would start as the favourite.'