Public transport services provider Stagecoach Group plc (SGC.L), Wednesday disagreed with allegations by the United States Department of Justice or DoJ and the Attorney General of the State of New York that the formation of the joint venture Twin America was anti competitive. Further Stagecoach said it is disappointed by the view of the authorities and would defend their position,as well as take necessary actions to protect the enterprise.
Twin America is a joint venture between Stagecoach North America and City Sights. It has been in operation in sight seeing businesses in New York city since early 2009.
Stagecoach also noted that, ...Contrary to the suggestion by the DoJ and NYAG, price increases in 2009 reflected increased labour, fuel and other costs. Notwithstanding continued increases in such costs, the efficiencies achieved by the joint venture have enabled Twin America to respond with better value and service to its customers."
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