Australian investment firm buys UK’s M6 toll road

Australian investment firm IFM, which co-owns Manchester Airport and Anglian Water, has bought the UK’s M6 toll road, reports the BBC.

The 27-mile motorway opened in December 2003 to ease congestion on the M6 and roads around north Birmingham, but has always lost money, with drivers saying it is too expensive to use regularly.

It was originally owned by Australian bank Macquarie before it was bought by a group of 27 banks in December 2013. It was put up for sale for nearly £2 billion last year.

Sources at IFM are said to have confirmed the sale but the investment group is yet to make any public comment.