LONDON -(Dow Jones)- European Express Enterprises Ltd. said Friday that the Cosmen family, National Express Group PLC's (NEX.LN) largest shareholder, has raised concerns over the future of National Express, arguing that the company should evaluate all options in order to stop any further loss of shareholder value.
MAIN FACTS:
-The Company is facing short-term issues that need to be addressed
-Cosmen family had serious concerns about the absence of a well-defined strategy to address the Company's broader and longer-term issues
-Stagecoach Group PLC's merger proposal could have addressed the fundamental financial and strategic issues facing the Company
-The board of the Company should ensure it makes its best efforts to evaluate all the Company's options with the benefit of independent advice
- Cosmen family is 'greatly concerned' that the Board risks losing further value for all shareholders by not keeping the Company's options open and would urge the Board to seek independent financial and legal advice to assist it in this review process
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com