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PCT: new bid mounting
Page 24
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• Staff at Portsmouth City Transport are expected to mount a fresh bid for the beleaguered municipal bus company in the aftermath of the failed Southern Vectis buyout attempt.
Last month's surprise decision not to sell PCT to Southern Vectis was followed by accusations of incompetence by both Portsmouth City Council and Southern Vectis.
The PCT employees' bid is thought to have the full backing of neighbouring Southampton City Transport, but neither Transport and General Workers' Union representative Alex Hodder nor Portsmouth City Council will confirm this. Southampton's fleet of over 800 buses combined with Portsmouth's 240 would present serious problems to the private operators in Portsmouth, Red Admiral and People's Provincial.
Provincial has already recruited more than 30 drivers from PCT but says it is not interested in taking over the company. Southampton support would greatly improve morale among employees at PCT who have unsuccessfully bid for the company in the past.
The sale of PCT will mark the second stage of the privatisation of the bus industry, it being the first municipal company to go under the hammer and into private ownership.
Negotiations to sell the company have been dogged by disaster over the past six months and this has given the rivals the chance to set up and pick up the pieces.
The joint BadgerlineSouthampton CityBus venture Red Admiral, People's Provincial and Southdown all stepped up their attacks on existing PCT services during the abortive negotiations.
Then Southern Vectis was judged not to have sufficient funds to buy PCT, and the city council was accused by Southern Vectis of trying to sell a concern whose financial status was less than solid.