FirstGroup hammered as government ditches West Coast rail deal - UPDATE

After announcing on Tuesday that it was confident in securing the West Coast rail franchise before the end of the year, FirstGroup has discovered that the Department for Transport (DfT) has dropped the contract competition.

After announcing on Tuesday that it was confident in securing the West Coast rail franchise before the end of the year, FirstGroup has discovered that the Department for Transport (DfT) has dropped the contract competition.

Shares were down 15.3% at 206.7p in the opening hour on Wednesday.

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