Investors hope Stagecoach can stay on track over east coast mainline

Investors hope Stagecoach can stay on track over east coast mainline
City reacts positively to privatisation of rail service – analysts estimate franchise could be worth 20p-30p on Stagecoach’s shares

Despite the east coast mainline rail service returning £1bn to taxpayers over the past five years in public hands – not to mention receiving a positive response from customers – the government pushed ahead with re-privatising the business anyway.

The winner of the franchise – announced at the end of last month – was Inter City Railways, 90% owned by Stagecoach and 10% by Virgin Trains. The duo also owns the west coast franchise, meaning it runs both main routes between London and Scotland.

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Source: Guardian Transport

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