Kali2
Gret news re The Tunnel bail out. You do realise, of course, that if France puts up the money, they will have control of access, etc, for imports and exports, and more.
I think you will find that the bail-out applies to Eurostar (rather than the Channel Tunnel) which was majority owned by SNCF anyway
From the FT
Eurostar has landed a £250m bailout from shareholders including the French government, securing the future of the struggling Channel Tunnel train operator, despite the UK’s refusal to join the rescue
In a statement on Tuesday morning, Eurostar said it would get £50m in shareholder equity, £150m in loans guaranteed by investors, and a restructuring of £50m of existing loans
“ Everyone at Eurostar is encouraged by this strong show of support from our shareholders and banks . . . The refinancing agreement is the key factor enabling us to increase our services as the situation with the pandemic starts to improve,” said Jacques Damas, the company’s chief executive
The package is led by France’s state-owned railway group and 55 per cent shareholder, SNCF, along with Canadian institutional fund manager Caisse de dépôt et placement du Québec, Hermes Infrastructure and the Belgian state rail operator
The UK, which sold its 40 per cent stake in Eurostar in 2015, did not take part. Grant Shapps, transport secretary, said in February that Eurostar was “not our company to rescue” given it was majority owned by the French state