The London mayor’s transport organisation is set to extend its influence over the capital’s network after Transport for London announced it intended to take over the owner of the Croydon Tramlink system. Financial Times

TfL said Tramtrack Croydon, the company that built the 28km-long system and had the right to run it for a further 88 years, had agreed to accept £98m from TfL for the company.

The deal, expected to be completed this summer, follows a succession of legal battles.