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Arriva moves ahead on bid battle hopes

Arriva has moved around 4% higher on hopes of a bid battle for the bus and rail group between the Germans and the French.

The company, up 29p at 745.5p, has already received an approach from Deutsche Bahn, said to be worth around 700p a share. Now the French government has reportedly suggested it would back any rival offer that its own rail company SNCF might want to make. Earlier this year talks about a link up between Arriva and SNCF's Keolis subsidiary came to nothing.

Many analysts believe a price of at least 750p and probably more than 800p would be needed to win over Arriva investors.

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