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SMRT BACKTRACKS ON £800 MILLION PLANS TO BID FOR LONDON CAB OPERATOR

SMRT said on Monday (Oct 13) it has decided against making a takeover bid for Addison Lee, London’s biggest minicab operator. In a statement to the Singapore Exchange, SMRT said it had been approached by an investment bank on the possible sale of Addison Lee. "Having considered the matter, the company has decided not to make a bid at this stage to acquire Addison Lee," the company said.

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