July 2 The owner of Trainline has appointed
investment bank Morgan Stanley to oversee a potential 400
million pound float of Britain's biggest online rail booking
system, Sky News reported on Wednesday, citing sources.
Exponent, a private equity firm that has held a controlling
stake in Trainline since 2006, has not decided the timing of the
probable initial public offering, sources told Sky. (bit.ly/VdqsrQ)
Established in 1999, Trainline was bought by Exponent for
about 160 million pounds from a consortium which included
Virgin, Stagecoach and National Express.
Sky quoted sources as saying that an outright sale of
Trainline, which handles ticket sales for the majority of UK
rail operating companies, was also an option.
Exponent, Trainline and Morgan Stanley could not immediately
be reached for a comment.
(Reporting by Esha Vaish in Bangalore; Editing by Bernard Orr)