LRT Criticised Over LTA Bidders

London Regional Transport has been criticised in an attack by Roger Fernley, managing director of British Transport Advertising over their handling of the sale of London Transport Advertising.

British Transport Advertising was made to understand that London Regional Transport did not want any delays to the sale of LTA by referrals to the Monopolies and Mergers Commission. Roger Fernley said that BTA sought guidance from the OFT on the likelihood of a referral and were told that they would be referred, so BTA withdrew from the bidding process. Mills and Allen also went through the same process, and consequently withdrew.

Following the announcement that the More O’Ferrall bid has been referred to the MMC, Roger Fernley said, “I am frankly amazed that LRT and their advisors have got themselves into exactly the position that they insisted bidders should take care to avoid. Companies (including BTA) who have acted with the utmost propriety throughout are now disadvantaged, and LRT and the Department of Transport are unknowing of what this sale might have raised.”

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