UK to take control of Go-Ahead's Southeastern rail franchise

© Reuters.

LONDON (Reuters) – Go-Ahead Group (LON:) said on Tuesday the government had decided to take control of its Southeastern rail franchise after the British transport group admitted it had made errors and repaid 25 million pounds ($34 million) over the contract.

It said its annual results had been postponed and its finance director, Elodie Brian, had resigned with immediate effect. Its financial results, including the expected provisions related to the franchise but not any financial penalty, remain in line with its expectations, it said.

($1 = 0.7311 pounds)

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