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FirstGroup admits error after asking for £240m

Moir Lockhead, chief executive of FirstGroup, admitted yesterday as he asked shareholders for £240m that the Aberdeen-based transport company should have sought new funds when it took over Laidlaw in the US last autumn.

Moir Lockhead, chief executive of FirstGroup, admitted yesterday as he asked shareholders for £240m that the Aberdeen-based transport company should have sought new funds when it took over Laidlaw in the US last autumn.