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But he acknowledged that there could be a pilot trial of vertical integration in Scotland.If all this goes ahead, the industry would be run by four or five large regional operators in sole charge of train operations in their areas.
A 21-year employee of SingTel, Ms. Chua helped invest 7.5 billion Singapore dollars, or $5.4 billion, to amass SingTel's foreign holdings in six regional operators as chief financial officer and head of international operations before being named chief executive in 2007.
Even the concept of regional operators is controversial.
Three J-Phone regional operators must be merged before the share sale.
But Abu Dhabi Airport Co. will soon have a new offering to attract regional operators.
They will end the old non-aggression pact among regional operators to avoid competing in each other's territory.
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The two firms are fighting over Cegetel, France's second-largest telecoms firm, in which British Telecom (BT) and SBC, an American regional operator, also have stakes.
All five businesses have significant ties with troubled Connaught, the business Harry's father, Mark Tincknell, spent 28 years building from a small regional operator in Exeter into one of Britain's largest social housing maintenance groups.
As HealthSouth expanded from a regional operator of rehabilitation centers into a national company with 50,000 employees at almost 2,000 centers, the city's establishment appreciated the economic benefits.
The proposed Severstal merger is a "reverse takeover by a regional operator," according to Mr Mittal.Last week antitrust lawyers filed two sets of documents to get the merger approved by the European Commission in Brussels.
Rather than playing catch-up with its larger, better-funded rivals, Gulf Air would settle for a more modest role as a high-frequency, regional operator plying Middle Eastern markets.
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