Mobico - comment

German press reports prompted a statement from the company today. The statement was scant but overall affirmative. According to the press, there seems to be a €200m package that was agreed unanimously with all five German PTAs yesterday afternoon. Three profitable lines have been extended to 2035. The contracts of the two loss making lines of RE7 and RB48 have been shortened from 2030 to 2027. I understand the package is worth €200m. We don't think it's a €200m cash payment. The report is slightly vague on the details.

www1.wdr.de/nachrichten/einigung-national-express-verkehrsverbuende-100.html