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Eurotunnel warns over its future

Discussion in 'On Track.' started by stepney60, Apr 12, 2006.

  1. stepney60

    stepney60 Nat Pres stalwart

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    Eurotunnel has warned that its future survival is dependent upon it managing to successfully restructure its giant debt mountain.

    The warning came as the Channel Tunnel operator said it was seeking an extension for talks with its creditors.

    "We cannot guarantee the future of the group in 2007, unless there is a global financial restructuring," said Eurotunnel chairman Jacques Gounon.

    The firm has been seeking to reduce its 6bn euros (£4bn) debt since last year.

    Full story HERE

    SOURCE: BBC
     
    stepney60, Apr 12, 2006
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