CMA Considers Fare Controls on FirstGroup's London-Exeter Line
July 19 2017 - 3:30AM
Dow Jones News
LONDON-- The U.K. Competition and Markets Authority Wednesday
said it is considering fare controls on the London to Exeter rail
line because the franchise has been awarded to FirstGroup PLC
(FGP.LN) and MTR Corp and FirstGroup already operates the other
franchise operating between the two cities.
"As the only operator running rail services between the 2
cities, the CMA found that FirstGroup could potentially take
advantage of the reduction in competition to increase fares for the
half a million passengers a year who use the route," the CMA
said.
FirstGroup also operates the Great Western Railway (GWR)
franchise which includes the London to Exeter route.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
July 19, 2017 03:15 ET (07:15 GMT)
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