National Express Calls Off Merger Talks

National Express has said that all talks of a merger with Stagecoach have ended. "It is unlikely that a combination with Stagecoach could be successfully executed in 2009, even if appropriate terms could be agreed" it said.

It is thought that this comment refers to possible issues with the Monopolies Commission who may have blocked such a move. Stagecoach has said that was "extremely disappointed" that National Express decided against its offer.

National Express has said that it intends to raise funds by issuing extra shares as soon as possible.