National Express shuns FirstGroup approach
Updated on 29 June 2009
Struggling National Express has snubbed an approach over a possible takeover by the UK's biggest transport firm, FirstGroup.
There is a "significant industrial and commercial logic" in a combination of the two companies, Aberdeen-based First said.
But National Express said it does not not consider it appropriate to enter talks with its larger suitor "at present".
The firm, which has debts of £1.2 billion, is attempting to renegotiate the onerous terms of its East Coast rail franchise with the Department for Transport.
© Independent Television News Limited 2009. All rights reserved.
These news feeds are provided by an independent third party and Channel 4 is not responsible or liable to you for the same.
