German group confirms Arriva approach
The German transport operator Deutsche Bahn which takes over operation of the Metro next month today confirmed it was in takeover talks with Sunderland-based bus and trains firm Arriva.
Deutsche Bahn, which already operates UK services including Chiltern Railways, said talks over a possible cash offer were "ongoing" in its bid to create a new European public transport giant.
Shares in Arriva jumped 17% yesterday after it announced an "unsolicited approach from a third party".
Arriva ended merger talks over a possible tie-up with France’s national rail operator Keolis two weeks ago.
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