The tendering process for providers is already under way, but the BMA said this was being rushed through.
The tendering process was revised following the West Coast franchise fiasco last year.
The tendering process has now closed and Ms Hyslop told MSPs a privately-backed bid was being considered by Scottish Enterprise.
The tendering was concluded in May 2004, and the vast majority, 98 per cent (n = 206), proceeded to sign a concession contract within the next year.
The tendering procurement cycle is typically once yearly and the winner is a mixture of those with higher quality, lower price or a mixture of these.
As a result, current players get deals extended without the tendering process being rerun.
Full details of what went wrong with the tendering process will no doubt come to light.
3.06pm: Fedorcio says the tendering process took five days from start to finish.
Serco has decided not to bid and Capita has expressed concerns about the tendering process.
The results of the tendering process have been suspended, pending an investigation.
The government will retain stakes in many companies and it is bypassing the tendering process for others.
