First Group's value takes a dive

[Tony]

And still dropping, not helped by this

http://www.branduk.net/first-group-fgp-excuses-excuses/

[Bryan]

And still dropping, not helped by this

http://www.branduk.net/first-group-fgp-excuses-excuses/

I'll give them 9 out of 10 for their excuses. as I'm sure they could have thought of one or two more.

Over many years I have felt really sorry for their passengers, who have had to put up with the group putting profits before customer service. I think finally they are beginning to get their act together now, and not before time, but they still have quite a way to go to catch up with the other big groups. 

[JoNi]

Fifth would be strange name for a group when the previous post implies Last would be more appropriate!

[winston]

First Group trading statement issued this morning:
http://otp.investis.com/generic/regulatory-story.aspx?newsid=762151&cid=858

[winston]

First Group have received a preliminary takeover approach of which the initial proposal has been rejected by the BOD:
http://otp.investis.com/clients/uk/first_group/rns/regulatory-story.aspx?cid=858&newsid=998669

[Straightlines]

First Group have received a preliminary takeover approach of which the initial proposal has been rejected by the BOD:
http://otp.investis.com/clients/uk/first_group/rns/regulatory-story.aspx?cid=858&newsid=998669

It will be interesting to see if there is any material effect on the share price tomorrow given reports over the weekend that First Group have held talks with Trenitalia over the sale of the UK rail arm.

[winston]

It will be interesting to see if there is any material effect on the share price tomorrow given reports over the weekend that First Group have held talks with Trenitalia over the sale of the UK rail arm.

There may be initially, then probably slip back as the day goes on, trading & volume is light this time of year. Also the 'Crack Team' looking at selling some/all of Greyhound are a little too late.

Article here, for anyone who's not seen it:
https://www.telegraph.co.uk/business/2018/08/04/rivals-circle-firstgroups-assets-amid-break-up-rumours/

Flixbus are expanding after only two month operating in the US:
https://techcrunch.com/2018/07/19/euro-startup-flixbus-expands-its-10-bus-service-in-california/

[winston]

More Private Equity interest in First Group, this time from CVC Capital Partners, CVC are the Private Equity Group who joined forces with the Spanish Cosmen family & Stagecoach to bid & break up NX Group back in 2009:

https://www.bloomberg.com/news/articles/2018-09-06/firstgroup-is-said-to-draw-private-equity-interest-including-cvc

[DJ]

Sorry for the Telegraph article, as their website hides most of the content behind a subscription, but it's the only proper source I could find.

FirstGroup are looking to sell off their Manchester operations, once worth around £100m, in a bid to cut losses, and they could be going for as little as £20m in total. They're also looking at selling each depot individually, so perhaps Diamond NW could be expanding?

https://www.telegraph.co.uk/business/2019/02/04/firstgroup-jettison-loss-making-manchester-bus-network/

[BK63 YWP]

Sorry for the Telegraph article, as their website hides most of the content behind a subscription, but it's the only proper source I could find.

FirstGroup are looking to sell off their Manchester operations, once worth around £100m, in a bid to cut losses, and they could be going for as little as £20m in total. They're also looking at selling each depot individually, so perhaps Diamond NW could be expanding?

https://www.telegraph.co.uk/business/2019/02/04/firstgroup-jettison-loss-making-manchester-bus-network/

NX could have a go maybe?

[DJ]

NX could have a go maybe?

Possibly, it would be nice to see some expansion, maybe Vantage would become Platinum then?  :o

[MW]

Possibly, it would be nice to see some expansion, maybe Vantage would become Platinum then?  :o

Or Signature 😁

[Tony]

Or Signature 😁

Yes depends which company gets which garage

[DJ]

Yes depends which company gets which garage

I do have a feeling that Rotala would look at expanding their operations in the area, considering they have Diamond NW and Preston. I'm not sure who else could really, other than maybe if Arriva wanted more of a presence in Greater Manchester?

[MW]

I do have a feeling that Rotala would look at expanding their operations in the area, considering they have Diamond NW and Preston. I'm not sure who else could really, other than maybe if Arriva wanted more of a presence in Greater Manchester?

From everything we know about Rotala, this is right up their street. They've got the funding, they're looking for acquisitions, their business model is specifically targeting high densely populated cities like Birmingham/Manchester/Bristol and they have a presence on the outskirts of London, and they've said already how they're wanting to expand in the North West region.

*yes I know Bristol is no longer a part of the "empire".