Nat Express take over by Stagecoach Part2

National Express is understood to be facing pressure to put itself up for sale in a move that could lead to a tie-up with rival Stagecoach.

Elliott Management, a US hedge fund that owns 16% of the bus, rail and coach operator, is said to have informed National Express of its views two weeks ago, but was told there were no plans for a tie-up.

Other potential buyers could include the French state-backed transport group SNCF.

National Express has turned round its fortunes since being forced to return its loss-making east coast rail franchise to the government in 2009.