- 7 updates
South West Trains will be taken over by its rival operator First Group later this year.
It is the second largest franchise in the country with 650,000 passengers using it every day.
Chinese company MTR will provide a £1.2 billion pound investment to the franchise.
750 new carriages and faster journey times are promised.
It's hoped this means good news for passengers.
Our Transport Correspondent Mike Pearse reports.
Mike spoke to Steve Montgomery from First Group, the Transport Secretary Chris Grayling and Anthony Smith from Transport Focus.
In the wake of the news that First Group and MTR are to takeover the South West Trains franchise, the Transport Secretary Chris Grayling has said it will be a time for real improvement for passengers.
The Secretary of State for Transport, Chris Grayling, has commented on today's announcement:
The Stagecoach Group has said it is 'disappointed' that it has been unsuccessful in its bid for the new South Western rail franchise.
The company lost the franchise, due to commence in summer 2017, to Great Western Railway's owner First Group.
The company has released the following statement:
Latest ITV News reports
The two new owners of the South West Trains franchise have promised extra seats, new trains and faster journeys for passengers from August.
The RMT Union's comments come as it's announced a new operator will takeover the South West Trains franchise.