'Takeover bid' for Channel Tunnel Rail Link group

15th February 2006, Comments 0 comments

LONDON, Feb 15, 2006 (AFP) - The company building Britain's first dedicated high-speed railway line, the Channel Tunnel Rail Link, has been approached about a possible takeover bid, the Financial Times in London said Wednesday.

LONDON, Feb 15, 2006 (AFP) - The company building Britain's first dedicated high-speed railway line, the Channel Tunnel Rail Link, has been approached about a possible takeover bid, the Financial Times in London said Wednesday.

The business daily said the move, by a consortium led by merchant banker and British Treasury adviser Adrian Montague, is a sign that investors are keen to tap into infrastructure assets along the 68-mile (109-kilometre) route.

It said the consortium is being advised and financed by investment bank Goldman Sachs but it was not clear who else was involved other than Montague.

The 5.2-billion-pound (7.6-billion-euro, 9-billion-dollar) Channel Tunnel Rail Link project is being built by London and Continental Railways and will run between London St Pancras Station and the tunnel on England's south coast.

It is expected to be fully open by next year, allowing high-speed passenger Eurostar trains linking Britain, France and Belgium to operate at full tilt.

The lack of a designated high-speed line in southeast England means that trains have to slow down on the British side of the Channel after speeding through the French countryside.

Montague is a former deputy chairman of British rail infrastructure group Network Rail as well as being chairman of both nuclear generator British Energy and the Cross-London Rail Links project.

Copyright AFP

Subject: French news

0 Comments To This Article