Fleet News

Speculation increases over possible TLS buy-out

VEHICLE rental group TLS has revealed it has received an approach which may lead to the fast-expanding company being bought. London Stock Market speculation suggested a bid was likely from GE Capital and, as a result, TLS shares rose 35.5p last week to a high of 135p after the company issued a statement to the Stock Exchange that it had been approached.

Bid speculation came as the TLS fleet reached 10,000 vehicles with the addition of a new line of Iveco Ford 40.10 vans equipped with Priestman DA12.2 powered access platforms. The company, which now operates from 26 sites, has grown from a fleet of 3,000 vehicles four years ago.

TLS chairman David Yeomans said: 'I cannot comment but we have notified the Stock Exchange that the board of TLS has received an approach which may or may not lead to an offer being made.'

GE Capital declined to comment on whether the company was involved.

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