How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
- Why every Expat is a scumbag
- Mixed Reaction to ECB Rate Cut
- Lorca Earthquakes 2 Year Anniversary
- Join us on the Costa del Sol to discuss your Spanish IHT requirements
- El Escorial
- Wincham announce opening of Marbella office
- Unauthorised Financial Advisers in Spain : UPDATE
- Community Insurance in Spain
- Caldendar Girls
- Own a Property in Spain ? Then you need to read the following
- EU Summit Eagerly Anticipated
- Travel Money Made Easy !
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Stagecoach wants Nat Express merger
Bus and rail group Stagecoach confirmed on Sunday it had approached rival National Express about a possible merger.
The confirmation followed a report about the planned all-share merger in The Sunday Telegraph newspaper, which valued the potential deal at 1.65 billion pounds.
In a statement, Stagecoach said that "at the invitation of the National Express board" on October 16, it sent a letter indicating the terms under which it would be prepared to enter into talks about a merger of the two companies.
The approach follows the Friday collapse of takeover talks between National Express and a consortium led by Spain's Cosmen family.
Stagecoach had made a deal with the consortium to buy National Express's UK bus and rail operations if the offer succeeded.
In a separate statement on Sunday, National Express said it had received a "highly preliminary" proposal from Stagecoach that would leave National Express shareholders owning no more than 40 percent of the combined group's stock.
National Express added it would consider the Stagecoach approach but continue to explore an equity fund-raising, "in order to see whether the Stagecoach proposal offers greater value and certainty to National Express shareholders."
In addition, National Express said it had not received a fresh proposal from transport group FirstGroup, which proposed an all-share merger with National Express in June, but walked away in July.
National Express is due to issue an interim management statement on Thursday.
Comment on this Story
Latest News & Stories
- Spanish Residents declare overseas assets equaivalent of 9% of GDP
- Zapatero : "The best Ex-Prime Minister"
- Spain to award Residency to buyers of luxury property
- Amnesty International Slams Spain's Human Rights Record .... Again
- Spain property eviction numbers questioned
- Naked Bullfighting Protest in Barcelona
- Jetset Lifestyle of Spanish Builders Crashes
- Spanish regulator to probe Bankia share trading
- Spain's cost of borrowing increases for first time in 4 months
- British Consulate to hold event for victims of Domestic Violence