"Bus companies National Express and Stagecoach in talks over merger"

[dutchman]

The deal would create a transport giant operating across the United Kingdom



Bus companies National Express and Stagecoach have confirmed they are in talks over a potential merger.

The all-share deal between the two firms would create a transport giant operating across the United Kingdom.

Under the terms of the possible agreement, National Express, who operate bus services across Coventry and the West Midlands, would own around 75 per cent of share with Stagecoach holding the remaining shares in the company.

Plans have been outlined to slash costs as part of the merger.

National Express say they expect to find annual savings of at least £35m following the Covid-19 pandemic which caused passenger numbers to slump for both firms.

If the deal were to go through, Stagecoach chairman Ray O'Toole would be come chairman of the board and National Express boss Ignacio Garat would be announced as its chief executive.

National Express is a coach and bus operator which provides services locally and on inter-city routes across the country.

Stagecoach is primarly a bus and tram company but also provides express coach services, with an 8,000-strong fleet of vehicles.