Arriva float derailed

GERMAN railways giant Deutsche Bahn’s plans for a stock market flotation of Arriva have been derailed by Britain’s vote to leave the European Union.

State- owned Deutsche Bahn had planned to float up to 45pc of Arriva on the London Stock Exchange.

But chief executive Ruediger Grube said that if the share sale went ahead ‘we would be throwing money out of the window, and acting that way would be foolish’.