The company says continuing uncertainty on transport demand amid the COVID-19 crisis is placing a strain on its future.
FirstGroup admitted on Wednesday that the coronavirus crisis had slowed the process, having earlier announced that talks were at an advanced stage.Chief executive Matthew Gregory told a call with journalists:"We need a little bit more clarity but absolutely we're ready to press on and resume that process as soon as we see how and when the schools get back."
Stuart Lamont, investment manager at Brewin Dolphin, said the company's update revealed the extent of the pressure facing transport operators.
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