Stagecoach readying Nat Express financing

British bus and rail operator Stagecoach is putting the final touches to a financing package as it readies a takeover bid for debt-laden National Express, the Independent on Sunday reports.

Earlier this month National Express saw shares fall 25 percent after a consortium led by Spain's Cosmen family walked away from a deal after spending a month poring over the books.

Stagecoach first made the preliminary approach for the all share deal last week, but some analysts believe that the deal could be scuppered by regulatory hurdles.