LONDON (Reuters) - UK rail contractor Tube Lines said it had not received a takeover offer from Transport for London (TfL) and was not aware that any such offer had been made to its shareholders, Spain’s Ferrovial (FER.MC) and U.S.-based Bechtel.
“Tube Lines is not aware of any such offer having been made by Transport for London to its shareholders. Any offer would be a matter for the shareholders,” Tube Lines said in a statement sent to Reuters on Sunday.
The Sunday Telegraph earlier reported that TfL had drawn up a series of options to end the Underground public-private partnership and take over Tube Lines, the sole remaining contractor.
Tube Lines signed a 30-year public-private partnership contract in December 2002 to upgrade the Jubilee, Northern and Piccadilly lines. It is now warning the Jubilee upgrade will miss its deadline next month and could run well into 2010.
Tfl and Ferrovial could not immediately be reached for comment.
Reporting by Rhys Jones; editing by Simon Jessop