In message
, at
00:46:33 on Fri, 19 Aug 2011, 1506 remarked:
Second, privatisation has not been a total failure. The railways are now
doing more business than previously including freight. I doubt if that
increase would have occured under public ownership.

The low price was probably to ensure that the sale succeeded.

As is always the case with such privatisations. My recollection is that
there was considerable doubt that anyone would want to buy what was a
run-down network with falling passenger numbers.
--
Roland Perry