We don’t often write about ferries and transport infrastructure here, but this statement demands an exception.
Eurotunnel is not surprised at the position of the Competition Commission, but will challenge the provisional findings which conclude that the addition of the new operator, MyFerryLink, would be detrimental to competition and could lead to an increase in prices.
You see’s it’s the tone. Snark is our job. It’s not becoming of a listed entity
that only exists because of the billions of tax payers £s poured into it. Read more
Uh oh. Remember this time last year when Iceland’s Eyjafjallajökull volcano was causing £130m worth of losses a day for airlines?
Well, bang on time for the rapture, Iceland’s second and most active volcano Grimsvoetn has began erupting: Read more
Hong Kong billionaire Li Ka-shing is considering a bid for High Speed 1, the fast rail link being sold by the UK government for £1.5bn-£2bn, reports the Daily Telegraph. Li’s Cheung Kong Infrastructure is understood to have expressed interest in the rail line linking London to the Channel Tunnel. It was unclear on Tuesday night, however, whether Li had registered an indicative offer ahead of Tuesday’s deadline. If so, adds Reuters, Li’s CKI faces at least three rival groups: a consortium led by Goldman Sachs and Eurotunnel, a team allied with Morgan Stanley, and a pair of big Canadian pension funds. Read more
Goldman Sachs is on track to take a 20% equity stake in Eurotunnel in a move that would make it by far the biggest investor in the Channel Tunnel operator and give it significant say over the company’s future direction, reports the Daily Telegraph. Goldman has emerged as a major potential shareholder after it was left holding most of an €800m (£615m) placing of a new class of deferred shares. Goldman’s infrastructure fund underwrote the placing and is understood to have ended up with around €650m of the €744m that was taken up by new institutional investors. Existing shareholders acquired most of the rest. Read more