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Suspending shares is embarrassing, the saga of Southeastern rail is serious
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theguardian.comThe most important item in Go-Ahead’s annual accounts last year, it turns out, was buried on page 188. Note 27 gave brief details of a dispute with the Department for Transport about past profit-sharing calculations on the Southeastern rail franchise, where Go-Ahead had a 65% stake in partnership with French firm Keolis.
The quarrel sounded dry, technical and the sort of thing that crops up from time to time on the railways. The accounts confidently asserted that should the DfT’s claim prove successful “the outflow of resources could be in the region of £8m”.
The small problem, however, keeps getting bigger. In September, the DfT stripped Southeastern of the franchise and accused the company of a “serious” breach of the franchise agreement.
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