Eurotunnel shares suspended pending debt deal

15th May 2006, Comments 0 comments

PARIS, May 15, 2006 (AFP) - Eurotunnel, which operates the Channel tunnel, said on Monday that it was trying to work out a debt restructuring deal with creditors and banking groups Goldman Sachs and Macquarie.

PARIS, May 15, 2006 (AFP) - Eurotunnel, which operates the Channel tunnel, said on Monday that it was trying to work out a debt restructuring deal with creditors and banking groups Goldman Sachs and Macquarie.

Eurotunnel said that the talks were intended to solve for good its debt of EUR 9 billion.

Earlier in the morning the Euronext stock market had said that trading in shares in Eurotunnel, which operates a rail-tunnel link between northern France and southern England, had been suspended at the request of the financial markets authority pending an announcement.

The announcement followed press reports about debt restructuring talks.

Last week Eurotunnel had said that it was talking to creditors and to several investors potentially interested in restructuring the company' total debt.

The Les Echos financial newspaper has reported that the construction group Vinci was considering becoming a shareholder in Eurotunnel at the request of Goldman Sachs and Macquarie. Vinci said on Saturday that it might act as an "adviser" in the running of the Eurotunnel concession.

Copyright AFP

Subject: French news

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