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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

Shares in National Express owner jump as it starts sale of US school bus business

United States National Express Mobico Ignacio Garat
Durham School Services yellow US school bus
Mobico’s North American bus company is one of the biggest school bus providers in the US. It operates in 33 states as well as in two Canadian provinces. Photograph: National Express

The owner of National Express has revealed it has begun the sale of its North American school bus business in an effort to reduce its £1.2bn debt, sending its shares sharply higher.

The share price of Mobico, which changed its name from National Express Group in June 2023, closed up nearly 18% at 68p on the London Stock Exchange on Wednesday , slightly down from its peak for the day of 70p.

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