Eurostar opens negotiations over mooted rail freight takeover
Eurostar could acquire GB Rail Freight should a new round of negotiations prove successful.
Eurostar has started negotiations to acquire Britain's
third-largest rail freight operator, GB Rail Freight (GBRf).
Under the newly-announced plans, the Channel Tunnel operator
intends to buy the company from First Group for €26.3 million,
Reuters has reported.
This figure is lower than that quoted by First Group earlier in
the year when it first outlined its intention to sell-off its rail
However, Eurotunnel chief executive Jacques Gounon explained to
the news agency that an agreement over pension liabilities also
needs to be taken into consideration.
He added that the planned acquisition makes sense given the
state of the European transportation sector right now.
"The size of the French and British freight markets together
accounts for about 75 percent of that of the leader, Germany," he
"This Franco-British axis has been insufficiently
In April, German rail operator Deutsche Bahn completed its
acquisition of UK bus and train operator Arriva.