SCHE Bahn, the German rail and bus giant, has confirmed its £1.2bn cash approach for Arriva.
Deutsche Bahn said yesterday talks were still ongoing but there was no certainty an offer would be made. Arriva’s shares continued to gain following news of Deutsche Bahn’s move, yesterday closing 10.6 per cent higher at 708p. Arriva said on Wednesday it had received an approach, but would not disclose the suitor. Arriva two weeks ago ended early-stage talks with SNCF, the French state railway group over an equity tie-up with Keolis.
Arriva already has operations in 12 European countries, while Deutsche Bahn currently owns the Chiltern Rail commuter line.