Stagecoach close to sealing Preston Bus deal

BUS operator Stagecoach is understood to be close to disposing of Preston Bus.

The transport giant was told to sell the business by the Competition Commission last year after the watchdog found the merger had “substantially” reduced bus competition in the town.

A spokesman for the Competition Commission said Stagecoach was approaching the end of the process but was still assessing bids.

“We don’t believe they’ve come up with a final decision yet,” he said.

The sale was to include a bus depot, other assets and a network of routes, including services formerly run by Preston Bus but since transferred to Stagecoach.

Stagecoach challenged the decision at a Competition Appeal Tribunal which ruled in May that the commission had imposed a disproportionate remedy based on inconsistent evidence.

The two sides have since hammered out a deal which involves a sale including fewer assets.

In a brief statement Stagecoach said: “We are continuing to comply with our undertakings to the Competition Commission regarding the sale of the former Preston Bus operations and we will make any announcement as appropriate in due course.”