Page last updated at 17:48 GMT, Wednesday, 17 March 2010

Arriva shares up on takeover bid

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Shares in transport group Arriva rose by 17% on Wednesday after it confirmed it had received its second takeover approach in as many months.

The bus and trains group refused to name the bidder, but there are rumours that it has come from Deutsche Bahn.

Sunderland-based Arriva confirmed early in March that merger talks with France's state railway SNCF had ended.

The latest rise comes after shares increased by 3% on Tuesday amid rumours of a possible 700p-a-share bid.

In London, Arriva's shares were up 97.5 pence to 677 pence - a new year high.

Singaporean firm ComfortDelGro, operator of London's Metroline bus company, has also been mentioned as a possible bidder.

Arriva bus
Arriva operates in a number of European countries

"There can be no certainty that any offer will be forthcoming," Arriva said.

"A further announcement will be made when appropriate."

Arriva describes itself as "one of the largest transport services organisations in Europe".

According to its website it employs more than 44,000 people and delivers more than one billion passenger journeys across 12 European countries every year.

It has operations in UK, Czech Republic, Denmark, Holland, Germany, Spain, Sweden, Poland, Portugal, Italy, Hungary and Slovakia.

The firm operates bus services in many major conurbations in England, Scotland and Wales, while its UK train operations include Cross Country in England and Scotland and the majority of passenger rail service in Wales.



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