Coast Capital, an activist investor, has demanded that First cut its North American oper­ations from its UK bus and train franchisesAn activist investor has renewed its call for a break-up of First Group and may convene an emergency meeting of the transport operator’s shareholders to try to force it through. Coast Capital has demanded that First cut its North American operations from its UK bus and train franchises. First said in December that it was reviewing all options for its North American services, which include the Greyhound coach network, student transport and airport transfer contracts. Coast Capital, a Canadian hedge fund that owns more than 10 per cent of First, said yesterday that it had heard nothing from the company since the end of last year. Shares in First have fallen sharply from 131p in late December to less than 100p yesterday after a brief

Source: The Times March 09, 2020 23:48 UTC