GMB future spelled out
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• The Greater Manchester Passenger Transport Authority has issued a consultation paper on the future of its subsidiary Greater Manchester Buses following talks with Transport Minister Michael Portillo.
It says: "If GMB were split up, privatised, and its companies acquired by either Drawlane or Stagecoach, this would give them more or less absolute market dominance across whole areas of the county. Either could buy less than 10% of GMB's operation and capture over 85% of the market in any one of six districts."
District councils, GMB and other interested groups are asked to reply by the end of February, to allow the PTA to reply to the Minister by 1 April. Options include the sale of GMB; a stock market flotation; the franchise of services; a sale to employees; or a joint venture.
GMPTA hopes the paper will provoke views on whether to go for full privatisation or press for a continued publicsector influence.
A year ago Portillo said he was considering splitting GMB into two or more units, but the PTA stressed this would be too expensive and could make GMB's units vulnerable to competition.