FirstGroup Plc is looking to sell one of its largest regional bus divisions, the Telegraph newspaper reported on Monday evening. The company’s operations in Manchester will be sold in a cut-price deal, said to be for as little as 20 million pounds.
FirstGroup’s Manchester operations, once worth about £100m in annual turnover, are set to be sold in a cut-price deal according to industry sources.
Hundreds of buses across three depots in Bolton, Manchester and Oldham, will be sold to rival bus operators.
The group may sell its
The company said it does not comment on market rumors or speculations.
A FirstGroup spokesman said: “We don’t comment on market rumours or speculation. We keep all bus services, depots and the business portfolio under constant review so we can be responsive to changes in market conditions.”