UK Government: Stagecoach Must Sell Preston Bus Limited
11 November 2009 - 6:49PM
Dow Jones News
The U.K. Competition Commission, or CC, said Wednesday that
Stagecoach Group PLC (SGC.LN) must sell Preston Bus Limited to a
competing company, after provisionally concluding in September that
Stagecoach's purchase of Preston Bus will reduce competition and
potentially harm the interests of passengers.
MAIN FACTS:
-CC will approve the successful bidder to ensure that it is
capable of operating as an effective competitor to Stagecoach.
-The sale will include a bus depot, other assets and a network
of routes, including services formerly run by Preston Bus but since
transferred to Stagecoach following the acquisition.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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