Skip to main content

Abellio to sell off 40% stake in Greater Anglia to Mitsui

by Felicity Collier

TRAIN operator Abellio announced yesterday that it is selling off 40 per cent of its Greater Anglia rail franchise to the Japanese firm Mitsui.

RMT leader Mick Cash said that the plans make a “mockery” of the government’s passenger rail franchising process, showing that Britain’s rail network is “constantly up for grabs.”

Abellio won renewal of its contract to operate the Greater Anglia network as recently as last August, having first operated it from February 2012.

Mr Cash warned that the message sent is that “the winning bidder can simply walk away, share out its responsibilities and choose its replacement whenever it sees fit.”

Abellio said it had reached an agreement with Mitsui that would create a 60-40 joint venture. The company has promised “significant improvements,” including a new fleet, for customers.

Rail union TSSA’s general secretary Manuel Cortes said: “Theresa May is supposed to be talking clean breaks with Europe today.

“Ditching a little bit of Dutch ownership of the Greater Anglia rail franchise is hardly a clean break and is just opening the door for someone else to make a quick buck from our passengers and taxpayers.

“The Japanese are here because there is money to be made out of our rail industry.

“The clean break British rail passengers need is to take back control of our train operating companies so that profits made here are invested in lowering fares and developing rail infrastructure here.”

OWNED BY OUR READERS

We're a reader-owned co-operative, which means you can become part of the paper too by buying shares in the People’s Press Printing Society.

 

 

Become a supporter

Fighting fund

You've Raised:£ 9,899
We need:£ 8,101
12 Days remaining
Donate today