Connex to lose franchise as TOC in the south east of London

• 'Shocked' Connex considers next move, BBC News Online 27/6/03.
  (http://news.bbc.co.uk/1/hi/england/3026498.stm)

This morning, SRA suddenly announced that it will withdraw franchise given to the TOC Connex on the train operation over the rail network in London's south east.

Although the announcement says the decision is made on the grounds of Connex's "financial mismanagement", the reason why the decision is made today is unclear. Just like the case of bankruptcy of banks, the authorities cannot wait until the TOC comes to the point where it can no longer operate trains; however, I believe the criteria should be made as clear as possible.