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Singapore's SMRT says won't bid for London taxi firm Addison Lee
October 13, 2014 / 12:20 AM / 3 years ago

Singapore's SMRT says won't bid for London taxi firm Addison Lee

SINGAPORE, Oct 13 (Reuters) - Singapore public transport operator SMRT Corp Ltd said on Monday that it has decided not to make a bid for London-based taxi firm Addison Lee.

Sky News reported on Saturday that SMRT was in the early stages of considering an 800 million pound ($1.3 billion) offer for the firm, which is currently majority-owned by private equity firm Carlyle Group.

“Having considered the matter, the company has decided not to make a bid at this stage to acquire Addison Lee,” SMRT said in a statement to the Singapore stock exchange.

1 US dollar = 0.6215 British pound Reporting by Rachel Armstrong; Editing by Kenneth Maxwell

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