Viacom Hopeful For CIE Contract Following Maiden Withdrawal

Maiden Outdoor’s announcement yesterday that advisors have been appointed to look into “strategic options” for the company has left rival Viacom Outdoor poised to retain the contract for Irish rail and bus operator, CIE.

Maiden’s revelation that it would return an operating loss this year led the company to withdraw from bidding for the CIE contract, despite widely being considered the front runner.

Incumbent Viacom Outdoor now looks likely to retain the business, with Tom Goddard, chief executive of Viacom Outdoor Europe, stating: “We put in a strong, considered bid for the CIE contract at the time and, with the process still open, the terms of our original bid still stand.

“Having run the business for the last decade, we feel we are in a good position to continue to develop the opportunities within the CIE.”

Press speculation yesterday suggested that Maiden may now be sold, with city insiders quoted by the Guardian claiming a sale is the “most likely outcome” of the current review.

Commenting on the future of Maiden, Goddard added: “We would not wish to comment prematurely on the future intentions of our business. However we will certainly watch the developments with interest and closely monitor the outcome of the investment bank’s appointment.”

Maiden’s difficulties follow an optimistic few months for the company, following a positive trading update in August (see Maiden Reveals Improved Summer Trading) and several contract wins within the last 12 months (see Maiden Secures Network Rail’s Roadside Contract).

Maiden: 020 7838 4000 www.maiden.co.uk Viacom Outdoor: 020 7482 3000 www.viacom-outdoor.co.uk