What would sale of National Express Group mean for its UK RAIL operations?

The board of National Express is considering a bid from the CVC Capital Partners which would break-up of the group. What would happen to its UK rail operations?

National Express has already handed back the keys for its East Coast intercity franchise. However, it appears that its remaining East Anglia and c2c franchises will be part of deal that sees National Express acquired by new owners. The Department for Transport is said to have indicated that it will allow the franchises to change hands as part of a takeover deal, in return for a fee.

Stagecoach has first refusal on the franchises should the bid by CVC Capital Partners succeed and it is reported...

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