16th Jun 2016 06:52
LONDON (Alliance News) - Transport operator FirstGroup PLC on Thursday said MTR Corporation (UK) is to partner with FirstGroup on a joint venture bid for the South Western rail franchise in the UK.
MTR is a Hong Kong-listed transport operator which runs the Hong Kong Mass Transit Railway. It also owns a large property portfolio in Hong Kong. MTR will take a 30% stake in the joint venture.
"We are pleased that we will be partnering with MTR in a joint venture to bid for the South Western rail franchise, for which we were shortlisted in February 2016," said Steve Montgomery, managing director of FirstGroup's FirstRail business.
By Sam Unsted; [email protected]; @SamUAtAlliance
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