The French could be running more of Britain’s transport network after state transport group Keolis/Eurostar was named one of three shortlisted bidders for the reprivatisation of the East Coast franchise.
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Saturday 23 May 1998
RACAL TELECOM, due to become the third spin-off from Racal Electronics, should enjoy a stock market valuation of pounds 675m.
Saturday 09 May 1998
TWO of the stock market's second-line rail companies are looking increasingly vulnerable to takeover strikes.
Wednesday 01 April 1998
FIRSTGROUP, Britain's largest bus operator, has won a franchise worth about pounds 55m in annual revenues to run Hong Kong's second-largest bus service serving 88 routes.
Saturday 07 March 1998
RAILWAY privatisation produced a new set of millionaires yesterday after Britain's biggest bus company got the green light to purchase one of the nation's high-speed train services.
Friday 06 March 1998
IT IS now plain that the way the Tories privatised Britain's rail network was scandalous. They conducted a financial exercise: the scheme had minimal regard for the interests of rail passengers and maximal concern for quick profits. Here was short-termism of the very worst kind. Evidence for the charge comes from the National Audit Office. Its figures for the profits garnered by train and franchise buyers who just happened to be in the right place at the right time to take advantage of Tory largesse almost beggar belief. To make a 220-fold gain on the back of public assets has nothing to do with enterprise or imagination. The only market involved was one in assiduity in how best to rip the state off. Rail privatisation, we now can see, was a kind of legalised theft. The scale of windfall gains occludes the moral climate and diminishes the capacity of the state in other contexts to pursue income-tax evaders and social security fraudsters.
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