The UK has announced it will sell its 40% stake in Eurostar, the high-speed rail operator connecting London and Paris.
The expected £300m will help “reform the British economy and tackle our debts”, according to Chancellor George Osborne.
Eurostar is owned by three countries: Britain has a 40% stake, French state-owned railway SNCF has 55% and the Belgian counterpart SNCB hold the remaining 5%.
Observers do not think that SNCF will make a bid, but that infrastructure, pension and insurance funds will.
Eurostar saw its revenues increase by 7% last year to £857m, with a 4% increase in operating profits of £57m. Greater numbers of business travellers helped boost growth.
The company paid £18m in dividends last year.
Last year passenger numbers finally reached 10m, a goal which Eurostar had initially expected to hit by the end of 1997.
The British government is trying to raise £20bn from the sale of state assets by 2020. Since 2010 it has raised £11bn.
Comments
Anyway aren't you one of the anti-McCann trolls - waiting to have your collar felt by Her Majesties Constabulary ? So presumably of Portuguese origin?
You say - no arrangements for them to revert to UK ownership. Arnold never said 'ownership' – no-one is buying anything. It is temporary emergency take over ….
Your thinking is clearly foreign.... What Chip chap can possibly be the alternative ?
The French turning off the UK's lights and water .... or anyone else. And let the Jihadists and Portuguese Theoretical Physicists out and about causing chaos in the darkness ???
If the UK is in an emergency crisis i.e. some threat to our countries security - what is COBRA for - if not to get a grip on things ?
So if the French or anyone else are dicking about on strike or having a hissy fit that interferes with our strategic interests - it is obvious that the UK authorities would not just stand by and let them !
The UK is not a minor 3rd division state like Portugal - re-read your British history books. And the French are AWARE of this !!!
AND
"When an emergency is declared the foreign owner steps aside, maybe gets locked up if looking remotely dodgy or is too slow handing over the keys - and a well oiled machine takes over. "
And your evidence for these daft comments...?
In the UK my power and water are supplied by french companies and there are no arrangements for them to revert to UK ownership - you're in denial mate.
Advanced EU countries also have 'reserved sectors of strategic interest' ..... but unlike the more backward ones like Portugal in stupidly protecting its TAP, PPP's, Telecoms, Banking etc etc .....
ours are far more sensibly in the small print that a foreign buyer agrees to.
No-one should think for a moment that foreigners would be running a UK strategic interest such as our Power Utlities, Telecoms or the Channel Tunnel in an emergency.
Even manufacturing would be commandeered such as the Germans 'owning ' Rolls Royce and Mini factories - although Jerry is actually our kind of neighbour nowadays. Unlike the Latino's.
When an emergency is declared the foreign owner steps aside, maybe gets locked up if looking remotely dodgy or is too slow handing over the keys - and a well oiled machine takes over.
A WIN -WIN situation that less developed EU countries cannot begin to get their heads round.
How long until we seek permission from foreigners to enter our country?