Stagecoach Group plc/Preston Bus Limited: a report on the completed acquisition by Stagecoach Group plc of Preston Bus Limited
Stationery Office, Dec 10, 2009 - Business & Economics - 230 pages
The Competition Commission has decided that Stagecoach Group plc (Stagecoach) must sell Preston Bus Limited to a competing company, after concluding its inquiry into the acquisition.In its final report the CC concludes that the sale of a reconfigured Preston Bus will be the most effective way to restore competition and safeguard passenger interests. The CC will approve the successful bidder to ensure that it is capable of operating as an effective competitor to Stagecoach. The sale will include a bus depot, other assets and a network of routes, including services formerly run by Preston Bus but since transferred to Stagecoach following the acquisition.The CC has been considering what action to take after provisionally concluding in September that Stagecoach's purchase of Preston Bus will reduce competition and potentially harm the interests of passengers. The CC has been investigating the completed acquisition of Preston Bus by Stagecoach, following a referral by the Office of Fair Trading (OFT) since May. Before the acquisition, Preston Bus provided local bus services in Preston and South Ribble, while Stagecoach is one of the largest bus and coach companies in the UK, with operations in over 100 towns and cities.
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