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Post by gooderson1 on May 19, 2019 14:46:10 GMT 1
An article in the business section of The Sunday Telegraph suggests that an activist hedge fund (Coast Capital Mangement) who are the biggest shareholders in the group is poised to step up it's attack on the group by issuing a list of demands that includes the splitting of the group in two(UK and USA) and to quit the UK rail operations totally. In addition the hedge fund last week requested an extraordinary general meeting to remove six directors and replace them with Steve Norris(former transport minister), David Martin(ex boss of Arriva) and four others. Interesting times ahead I think.
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Post by gooderson1 on Sept 16, 2019 15:28:39 GMT 1
Yesterday's business section of The Sunday Telegraph and various places on the Internet are suggesting that First Group are preparing to sell Devon & Cornwall, Dorset, Bristol and East Anglia operations as management buyouts.
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Post by driver6540 on Sept 21, 2019 22:06:09 GMT 1
That's surprising, as iv'e previously read that Bristol along with Leeds and Glasgow are the three most profitable business area's within Firstbus uk operations.
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Post by gooderson1 on Sept 22, 2019 8:20:42 GMT 1
It may well be a case of "we are prepared to sell any unit at the right price". A good few years ago First Group shares were around £8 each. Close of the stock exchange on Friday 20th shares were trading at £1.35p each. Says it all really.
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