Still only one definite NBC buy-out bid
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• National Holidays is still the only National Bus Company subsidiary to have completed and submitted a management buy-out bid to its parent company.
Most bus operating subsidiaries waited to see the level of competition they would face after deregulation day.
Now service registrations have been published by Traffic Commissioners and NBC has advertised its subsidiaries for sale, the management of over 30 are known to be finalising bids which are expected to be submitted soon.
The consent of Transport Secretary Nicholas Ridley is required before any bids can be accepted and he favours management buy-outs.
The appointment of four managing directors for the four companies being created by the splitting up of London Country Bus Services is expected within three weeks.
The company is one of four large NBC subsidiaries being split up on Ridley's instruction in order to provide fair competition in a deregulated industry.