Deutsche Bahn Completes Arriva Takeover

21 April 2010 (Last Updated April 21st, 2010 18:30)

German national rail operator Deutsche Bahn has completed its takeover of UK train and bus company Arriva in a deal worth £1.59bn ($2.45bn). Following months or rumours, Arriva confirmed talks were at an advanced stage earlier this week. The takeover creates one of Europe's larges

German national rail operator Deutsche Bahn has completed its takeover of UK train and bus company Arriva in a deal worth £1.59bn ($2.45bn).

Following months or rumours, Arriva confirmed talks were at an advanced stage earlier this week.

The takeover creates one of Europe's largest transport operators, with Arriva operating bus and rail services in 12 countries.

Deutsche Bahn has faced increased competition in its domestic market and has been looking to expand operations across Europe.

Talks between Arriva and Deutsche Bahn's rival, French firm SNCF, broke down earlier this year paving the way for the takeover.