UK government to proceed with Eurostar sale

UK government to proceed with Eurostar sale

UK chancellor of the exchequer George Osborne has said the government is seeking a buyer for its 40 per cent stake in the Eurostar cross-Channel train service.

The planes were originally revealed in the 2013 Autumn Statement and National Infrastructure Plan, with the government now moving ahead with the proposals.

Osborne said the plan was designed to help boost public finances, with an aim to raise £20 billion in asset sales by 2020.

Osborne said earlier: “I am determined that we go on making the decisions to reform the British economy and tackle our debts.

“So we will proceed with the potential sale of the UK’s shareholding in Eurostar today.

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“Ensuring that we can deliver the best quality infrastructure for Britain and the best value for money for the taxpayer are key parts of our long-term economic plan.”

Companies interested in purchasing the stake have until the end of this month to notify the Treasury.

Eurostar began service in 1994 as a partnership between three railway companies: SNCF, SNCB and British Rail.

In September 2010, it became a single, unified corporate entity owned by three shareholders: SNCF, SNCB and LCR.