The introduction and obligation of tendering PT (concessions) in Europe has led to more focus on cost-efficiency and contracts. An additional effect in regional PT is the increase of undesirable boundaries between train and bus, e.g. in the form of non-aligned tariffs and bad interchange possibilities. The goal of a multimodal concession is to abolish these boundaries and establish an integrated PT system by tendering regional train and bus simultaneously. When the organisational part of integration is established this way, it becomes possible establish operational integration, which is defined as the alignment of the networks, schedules, information, tickets & tariffs, and Traffic Control of regional train and bus. Our analysis shows that internal coordination (in a multimodal concession), set against cases where integration is arranged by a contract or a partnership, indeed leads to more focus and better tuning of most of the five levels. In a particular case, on balance passengers are offered a better aligned PT system and the operator can operate more efficiently. However, not in each case a multimodal concession is most suitable and the risks for operators are large. Besides that, the implementation often is a difficult process. It is concluded that in cases it is possible to tender a multimodal concession, the pros often outweigh the cons.