FirstGroup, MTR Agree To South Western Rail Ticket Price Caps

Features Dow Jones Newswires

The U.K.'s Competition and Markets Authority Friday said FirstGroup PLC (FGP.LN) and MTR Corp. Ltd. (0066.HK) have agreed to put a price cap on fares for their South Western Rail franchise in England after the CMA raised concerns about FirstGroup operating another rail franchise on the same route.

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FirstGroup, which also operates the Great Western Railway franchise that includes the only other service between London and Exeter, and MTR have agreed that ticket prices on the route will be linked to those on comparable services, the CMA said.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

August 18, 2017 02:36 ET (06:36 GMT)