The story
The Midland Mainline franchise was awarded by the Director of Passenger Rail Franchising to Midland Main Line Limited for a period of ten years with operations commencing on 28 April 1996. Shortly after the franchise commenced, the transport conglomerate National Express launched a bid to acquire Midland Main Line Limited, and thereby the franchise. The tentative acquisition was promptly referred to the Monopolies and Mergers Commission for review as National Express not only operated an existing rail franchise but also numerous express coach services in the West Midlands. The Commission found that the deal would likely be against the public interest, leading to the Board of Trade deciding that National Express ought to commit to certain requirements in respect to coast fares and service levels. National Express consented to several restrictions, including to maintain the service levels of its coach services, to not increase fares above the increase in the Retail Price Index, and to provide verifying information to regulatory authorities so that its level of compliance to this undertakings can be ascertained.
During May 1999, Midland Mainline was able to extend its sphere of operation following the delivery of additional rolling stock. In August 2000, the Shadow Strategic Rail Authority awarded a two-year extension in return for National Express committing itself to certain investments in the franchise, which included the ordering of new rolling stock and the running of an hourly service to Leeds.
From Wikipedia’s article on Midland Mainline (train operating company), shared under CC BY-SA 4.0.3