The story
On 13 October 1996 Connex commenced operating the South Eastern franchise having beaten bids from a Management/FirstBus consortium, GB Railways and Stagecoach.
In December 2002, after the franchise ran into financial trouble, the Strategic Rail Authority agreed to bail it out with a £58 million injection, with the franchise end date changed from 2011 to 2006. However continuing poor financial management resulted in the Strategic Rail Authority deciding to strip Connex of the franchise in June 2003. Connex South Eastern continued to operate the franchise until 8 November 2003 with the services transferring to the Strategic Rail Authority's South Eastern Trains subsidiary the following day.
From Wikipedia’s article on Connex South Eastern, shared under CC BY-SA 4.0.3
