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Commenting on the proposed investment, announced to the Stock Exchange this morning, John O' Brien, the Franchising Director, said:-
"The statement released by Stagecoach and Virgin indicates that the proposed change in shareholding, with Stagecoach taking a 49% interest in Virgin Rail, requires my approval.
" I will therefore be having talks with both parties to understand the implications of the proposed deal.
" Above all, I shall need to be convinced that the proposed deal is in the best interests of passengers in deciding whether or not to give my approval" .
Railnews Archive ::: 1998-06-22 OPR-001
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