Transport for London has awarded Cubic Transportation Systems Ltd a contract to provide the capital’s ticketing and fare collection services. Cubic, which holds the current contract, fought off competition from two other shortlisted bidders: Sheidt & Bachmann, and LG CNC Co Ltd. The new contract commences in August 2015 and runs for seven years, with an early exit option after five and extension options of up to three years. The full ten-year contract would be worth about £660m....
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