Deutsche Bahn, the German national rail company, has confirmed that it has tabled a bid for Arriva, the UK transport group. On Wednesday Arriva's shares rose 17% after it said it received a takeover approach, but did not name the bidder. But on Thursday Deutsche Bahn said it had made a cash offer for the group, but did not disclose its value. Deutsche Bahn already operates the Chiltern Railways route between London and Birmingham in the UK.
It also runs the UK's biggest rail freight operator, English Welsh and Scottish Railway (EWS).
Arriva's shares rose another 4.6% on Thursday following the news. The Sunderland-based group is one of the largest transport groups in Europe, with operations in 12 countries. In the UK it runs several train and bus networks, including the majority of passenger rail services in Wales.
Earlier this year, Arriva confirmed it was in talks with French state railway group SNCF about a possible merger, but they later ended without agreement.
It also runs the UK's biggest rail freight operator, English Welsh and Scottish Railway (EWS).
Arriva's shares rose another 4.6% on Thursday following the news. The Sunderland-based group is one of the largest transport groups in Europe, with operations in 12 countries. In the UK it runs several train and bus networks, including the majority of passenger rail services in Wales.
Earlier this year, Arriva confirmed it was in talks with French state railway group SNCF about a possible merger, but they later ended without agreement.
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