first bus could be sold off

[Cedric]

https://www.bbc.co.uk/news/business-48456840
re article   looks as if  first are breaking things up

[winston]

It doesn't actually say that.

First Group have confirmed that they're going to sell Greyhound, but the wording for First UK Bus says 'separation' not 'sale'

[j789]

Lots of gossip this week around the garage at Worcester. Obviously everything is pure speculation at the moment as the statement wasn't very specific but the two that are seen as most likely to be interested are Stagecoach and National Express. Stagecoach would probably make more sense as it would fit in well with Cheltenham and Gloucester operations but I am sure National Express would also like to get their hands on the 144 route and I can't see there being any competition commission issues as only that route overlaps current operating territories and it would prevent Stagecoach gaining more ground around the Midlands area with the potential competition that might create. Interesting times ahead if anything actually does happen!

[winston]

Worcester & Leicester would make good bolt on's for NX.

Also, Bristol, Glasgow, South Yorkshire & West Yorkshire share similar characteristics to NXWM i.e. scale / urban / high frequency etc

I fully expect Rotala to be interested in Worcester thus rejoining the former Midland Red West depots back together

[j789]

Worcester & Leicester would make good bolt on's for NX.

Also, Bristol, Glasgow, South Yorkshire & West Yorkshire share similar characteristics to NXWM i.e. scale / urban / high frequency etc

I fully expect Rotala to be interested in Worcester thus rejoining the former Midland Red West depots back together

True about those garages and the possible purchase. As for Diamond, I think that would be us drivers worst nightmare. Not exactly got a good reputation amongst our drivers. I would certainly be applying to NXWM to drive for them if Rotala did takeover as I wouldn't work for them.

[winston]

True about those garages and the possible purchase. As for Diamond, I think that would be us drivers worst nightmare. Not exactly got a good reputation amongst our drivers. I would certainly be applying to NXWM to drive for them if Rotala did takeover as I wouldn't work for them.

There's a lot of people have nothing good to say about First Group aswell.

Always best to decide for yourself & try before making a decision.

[mikestone]

As with Arriva, I don't see individual companies being sold, much less individual depots - particularly as there seems to have been no takers for Bolton or Rochdale.

[winston]

As with Arriva, I don't see individual companies being sold, much less individual depots - particularly as there seems to have been no takers for Bolton or Rochdale.

It may not be First Group & DB who break-up their UK bus ops in to smaller parts, but there's nothing to stop private equity buying them as a job lot, then selling off parts for a profit in the future. I suspect Souter Investments may also get involved somewhere along the lines after just pocketing £160million from ADL sale. Something like suggested above seems right up his street.

[markcf83]

I wouldn't be surprised if Stagecoach get their hands on parts of both Arriva and First.

[winston]

I wouldn't be surprised if Stagecoach get their hands on parts of both Arriva and First.

I'm not sure how much Stagecoach directly could buy due to Market Dominance, they could only take part if Arriva UK & First UK are sold off in parts.

But nothing stopping Brian Souter through Souter Investments doing something....

[Roy]

Coast Capital's bid to take control of First by sacking 6 FirstGroup directors and installing 7 of their own was heavily defeated at the shareholders' meeting this afternoon.
https://www.finanznachrichten.de/nachrichten-2019-06/47033913-firstgroup-plc-result-of-general-meeting-008.htm
https://www.scotsman.com/business/firstgroup-survives-boardroom-coup-as-chairman-resigns-1-4954092

[winston]

Coast Capital's bid to take control of First by sacking 6 FirstGroup directors and installing 7 of their own was heavily defeated at the shareholders' meeting this afternoon.
https://www.finanznachrichten.de/nachrichten-2019-06/47033913-firstgroup-plc-result-of-general-meeting-008.htm
https://www.scotsman.com/business/firstgroup-survives-boardroom-coup-as-chairman-resigns-1-4954092

The problem the board still have is the votes for Coast's Resolutions were made up of it's top 3 shareholders that own 29% of the group between then.

Also, their Chairman Wolfhart Hauser has stepped down which may appease shareholders short term.

Coast are suggesting the certain shareholders were told 'that everything is for sale at the right price'

https://www.standard.co.uk/business/coast-capital-cries-foul-at-leaks-to-some-but-not-all-firstgroup-shareholders-a4175346.html

[Ginger66]

Can't see First getting rid of Glasgow, Manchester or London operations but some of the urban operations such as the coastal ones could take a hit.   

It would be interesting if potteries went Diamond and Worcester to NX group

[markcf83]

They sold the London operations almost six years ago to the day.

[Tony]

Can't see First getting rid of Glasgow, Manchester or London operations but some of the urban operations such as the coastal ones could take a hit.   

It would be interesting if potteries went Diamond and Worcester to NX group

They have already sold Manchester, as well as London mentioned above!