Deutsche Bahn seals Arriva takeover

Deutsche Bahn sealed a takeover of Britain's Arriva this week and predicted a Europe-wide transport sector consolidation wave would follow, Reuters reported.

Deutsche Bahn chief executive Ruediger Grube said the combined group would become one of just a few strong players in the rail, bus and logistics industries as Bahn expands internationally to take advantage of a more liberalised transport market in Europe.

"We intend to be the drivers and not the driven," Grube said, adding that the absence of synergies showed the merger was aimed at growth, not cost cuts.

Grube predicted there would be "five or six" big pan-European transport groups within 10 years, with state-backed groups playing a key role, although he gave no specific detail on which countries or companies could be next in line.

(Source: Cargo News Asia)