Rail deal approved for bus company

The Commerce Commission declined an application from Stagecoach in December last year but reconsidered following a High Court hearing in February 2002. The Commission does not say why it changed its mind but a full version of its decision will be released next week.

Stagecoach is one of three potential joint venture partners currently being evaluated by the Wellington Regional Council to run the train service.

The application for permission was made on behalf of New Zealand Bus Limited, which is the holding company for bus operations in Wellington, Hutt Valley and Auckland. NZ Bus is a wholly owned subsidiary of UK transport company Stagecoach Group.

Tranz Rail is selling Tranz Metro as part of a restructuring announced in October 2000 to focus on rail freight and interisland ferries and drop all rail passenger services.

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