A £5bn contract to run Wales’ rail service for the next 15 years has been awarded to two European firms, who will run it jointly.

France’s Keolis and Spanish-owned Amey’s bid triumphed over a rival offer from Hong Kong’s MTR commuter railways.

It will also drive forward the south Wales Metro in Cardiff and the valleys.

The operators said while the changes would not happen overnight Wales’ railway “would be unrecognisable” in five years time.

KeolisAmey already runs Greater Manchester Metrolink and London’s Docklands Light Railway, among others.

But full details of its plans for Wales will not be revealed until next month.

This is to allow for the potential challenge to the process by the other bidder.