Tube PPP signing delayed a month

London Underground Ltd (LUL) has admitted that the signing of the Public Private Partnership (PPP) contracts has been delayed for another month until 7 December. The contracts were supposed to be finalied today (Friday).

"All parties (involved in the contracts) agreed to delay (the signing of the deals)," an LUL spokeswoman said.

"Clearly, the transactions are not yet complete. A major reason for the delay is the court challenge brought by the Mayor and Transport for London in the summer, which they were forced to withdraw," the spokeswoman added.

But she added: "We are making good progress towards finalising the deals."