UK's Mobico hits near 1-year low as bus unit sale price disappoints

Mobico

25/04/2025 08:56

** Shares of British transport company Mobico MCG.L slump 19% to 47.78p, their lowest level since June 2024

** Stock top loser on the FTSE mid-cap index .FTMC which is up 0.3%

** Co to sell North America school bus unit to I Squared Capital for up to $608 million, a valuation lower than Jefferies' estimate of $1,275 million base case value

** Sees 2024 adjusted operating earnings to be at lower end of earlier forecast range of 185 million pounds to 205 million pounds ($246.20 million-$272.81 million)

** Including session's fall, stock down ~40% YTD

($1 = 0.7514 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)

 ((DhanushVignesh.Babu@thomsonreuters.com;))