Stagecoach looks for National Express deal

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The Independent Online

Transport group Stagecoach has approached National Express, the indebted bus and train operator, over plans for a friendly merger.

The deal would allow National Express and the Government to sidestep a brewing row over the company's East Anglia and e2e train franchises, which it wants to keep, despite handing the unprofitable East Coast main line back to the Department of Transport. Spain's Cosmen family and the buyout group CVC walked away from a deal to buy National Express on Friday.