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Arriva jumps on takeover approach

Shares in Arriva motored ahead after the rail and bus group said it had received an approach about a possible offer.

Arriva confirmed earlier this month that talks with France's state railway group SNCF about a merger between its transport business Keolis and Arriva had ended.

The failure of the talks stoked takeover speculation and shares in the company climbed yesterday amid rumours of a possible 700p-a-share bid from German transport operator Deutsche Bahn.

Singaporean firm ComfortDelGro, the operator of the London bus company Metroline, has also been mentioned as a possible bidder.

'There can be no certainty that any offer will be forthcoming,' Arriva said today.

'A further announcement will be made when appropriate.'

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