Early day motion tabled by primary sponsor Graham Stringer (Labour), on Tuesday, 24 March 1998, in the House of Commons. It is signed by 18 members in total.

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PROPOSED ACQUISITION OF GREAT WESTERN HOLDINGS

That this House believes that the offer by First Group PLC to buy out the other shareholders of Great Western Holding Ltd is another example of the privatised railways making individuals into millionaires at the expense of the passengers; further believes that the Franchise Director (a) failed to consult the relevant PTEs before announcing his view publicly, (b) improperly used his position to extract from the acquiring company benefits for a franchise wholly unconnected with the two Great Western Holding franchises, namely Great Eastern Trains, (c) failed to use his position to gain more than 1.5 per cent of the overall benefit for the North West which contains a directly affected franchise and (d) failed to properly consider the competitiveness issues in the north of Greater Manchester; and therefore believes that this acquisition should not be allowed to be completed by the Franchise Director until full consultation has taken place and there is equitable benefit for the involved franchises.

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Secondary information

Type

Early day motion

Reference

1135 

Session

1997-98

Subjects

Privatisation Takeovers FirstGroup Great Western Holdings

Link

View this Early day motion on www.parliament.uk