Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Friday 17 September, 2004

Competition Commissn

NEG Greater Anglia Prov Find

Competition Commission
17 September 2004

News Release

                                                              17 September 2004


The Competition Commission (CC) has provisionally cleared the acquisition by
National Express Group plc (NEG) of the Greater Anglia rail franchise which was
referred to the CC by the Office of Fair Trading (OFT) on 27 May 2004. After
conducting two surveys of users and an analysis of the potential profit
incentives of NEG after the merger, the CC has provisionally concluded that it
will not lead to a substantial lessening of competition.

In particular, the CC considered the effects on competition:

•  between certain rail services and coach services in the Greater Anglia area;

•  between rail services between London and Southend, where NEG now operates 
   both the alternative services through the Greater Anglia and c2c franchises; 

•  between rail services between Peterborough, Cambridge and Norwich, where NEG 
   runs overlapping services through the Greater Anglia and Central Trains 

Professor Paul Geroski, Chairman of the inquiry group and the CC, commented on
the findings:

'In the time available to us following the reference from the OFT, we have been
able to examine closely the competition concerns arising from NEG's acquisition.
After studying evidence which was not available to the OFT, our provisional
conclusion is that the acquisition may not be expected to lead to a substantial
lessening of competition in any of the areas we have been asked to look at.

'We took into account that widespread regulation of both rail fares and service
levels would restrict NEG's ability to make changes adversely affecting
passengers. We also found that many of those who could be most affected by this
acquisition are leisure passengers. As they can be far more flexible in their
choices, there is less likely to be an economic incentive to increase prices.

'Our studies showed a small share of passengers using coach services on the
routes we looked at, suggesting very limited existing competition between coach
and rail. We concluded that there would be no incentive for NEG to raise coach
fares or reduce services in an attempt to force passengers from coach to rail,
since they would risk losing customers who would normally connect to other NEG
coach services at their destination.

'In terms of the Peterborough-Cambridge-Norwich services, we discovered no fare
competition and that there are alternative bus services to act as constraints.
On the Southend lines, we found that only a limited number of passengers have a
realistic choice between the two lines; and that their choice was based on
factors such as stations' proximity to their home and final destination. Again
the ability to raise fares and alter services would be constrained by
regulation, and for unregulated fares by passengers' ability to make other

The acquisition of a rail franchise is treated as a merger under the Railways
Act, and the terms of reference did not include asking the CC to consider the
integration of the former Anglia, Great Eastern and parts of the WAGN franchises
into the Greater Anglia franchise.

The CC's findings are set out in the summary of the provisional findings report
which is published on its web The CC
proposes to publish the full provisional findings report on its web site next

NEG has 21 days in which to respond. Views on the provisional findings from
other interested parties are also invited during this period, in writing, by 7
October 2004.

Anyone wishing to submit views is requested to write to:

The Inquiry Secretary,
NEG/Greater Anglia
Victoria House
Southampton Row
London WC1B 4AD

or by email to:

Notes for editors

1.      The Greater Anglia franchise brought together the former Anglia and
Great Eastern franchises as well as parts of the WAGN franchise. The new
franchise has been branded by NEG as 'one'.

2.      The NEG/Greater Anglia Inquiry Group consists of five members-Professor
Paul Geroski (Chairman of the CC), Sarah Brown, Chris Darke, Diana Guy and Peter
Stoddart-supported by the CC's staff.

3.      The Enterprise Act 2002 (the Act) empowers the OFT to refer to the CC
completed or proposed mergers, either where the merger creates or enhances a 25
per cent share of supply in the UK (or a substantial part thereof) or where the
UK turnover associated with the enterprise being acquired is over £70 million.

4.      The Act requires the CC to consult the main parties on its proposed
decisions and the CC will also publish notices of its provisional findings and
possible remedies on its web site as required by its rules.

5.      Enquiries should be directed to Francis Royle, Chief Press Officer, on
020 7271 0242 (email: or Rory
Taylor on 020 7271 0398 (email:

6.      Further information on the CC and its procedures, including its policy
on the provision of information and the disclosure of evidence and merger
references can be obtained from its web site at:

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                            

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