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Taxi boss: 'I'll continue fight to aquire Citybus'
TAXI mogul John Preece today said he was 'astonished' to learn his consortium was out of the running to buy Citybus – and stressed he still wanted the bus company.
The Taxifast chairman said Plymouth City Council had not told him it was dropping the bid.
He is now contemplating legal action in an effort to gain control of a company he has coveted for 21 years. "We never give up hope," he told The Herald. "We will use the courts if necessary."
The cash-strapped council is considering selling its Citybus shares, opening the door for other transport operators to take over the struggling outfit.
On September 11 the council said it had received five bids.
Mr Preece is spearheading a consortium of four Plymouth firms: his own Taxifast, its associated Taxibank brokerage operation, bus operator Target Travel and property firm London and Westcountry Estates.
The council will make a decision on whether to continue the sell-off project early this month when the bids have been assessed.
But yesterday, The Herald revealed, via an exclusive interview with Cabinet member for finance and budget Cllr Ian Bowyer, that the consortium was no longer being considered as a bidder.
Mr Preece said the council had not told him. He said: "I have not been told anything. This is new to me. This is a total surprise."
And he insisted: "We still want it."
"I will fight them. Of course I will fight them," he said. "I have never been afraid of the council, or its officers or the way they work.
"We will review the situation; there are various processes we can go to."
Mr Preece has make no secret of his desire to acquire the council-owned bus firm over the years, and even offered £13million in 2002.
"I have wanted it for 21 years," he said.
But he said his consortium had declined to reveal financial information to the council, when requested, because he did not feel it was necessary.
He was also wary of disclosing information, claiming he had a bad experience when he bought Western National in the 1980s, before it was sold to First.
"They (the council) wanted to know our bankers. We said no," he said.
"We are nervous of disclosing our finance source, because of previous experience when we purchased Western National, and we gave them that reason.
"We did not think it was reasonable."
He felt the consortium 'did not need' to give sensitive financial information and added: "We are a substantive company, bigger than Citybus.
"We will play our cards close to our chests."
He also said: "I think they have already decided who is going to buy Citybus."
However, a council spokeswoman insisted a report outlining the recommended way forward would go to Full Council on November 30 when a final decision whether to sell any shares in Plymouth CityBus would be made.
The spokeswoman said: "The bidding process is commercially sensitive and therefore we will not be confirming any further information about shortlisted bidders."
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