FirstGroup flogs routes to raise £100m

Many local bus routes across Britain could be sold off in the next few months as FirstGroup seeks to raise over £100m by selling the weakest parts of its business. The plan to concentrate on markets with the best growth potential was outlined at FirstGroup’s end of year trading update. Chief executive Tim O’Toole told investors that the UK Bus division was suffering from poor revenue figures particularly in its urban operations in Scotland and the North.
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