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What now for the EU ?

As this is Covid-19 related, i.e. the drop in passenger number, surely the shareholders should be propping up their company? Also, as the company is French, and presumably pays tax on its profits to France, any assistance should be given by the French taxpayer, not the UK one.

If the UK does agree to help out with megabucks then it should be either with relevant and substantial interest rates attached and/or shares in the Company transferred to UK ownership.

SNCF own 55% of the shares. A Quebec based Government sponsored Investment body called Caisse de dépôt et placement du Québec own 30%, Hermes Infrastructure own 10% and Belgium own 5%.

The logic should be that if funding is required for Eurostar then the split should be should be 55% from SNCF, CDPQ 30%, Hermes 10% and Belgium 5%. And not a penny from HM Treasury. If any of these companies don't put their full share up then every penny put in by HM Treasury should be secured on shares given to HM Treasury on the basis of 55% SNCF/30% CDPQ/10% Hermes/5% Belgium at a rate of 2 shares per £1.
 
As this is Covid-19 related, i.e. the drop in passenger number, surely the shareholders should be propping up their company? Also, as the company is French, and presumably pays tax on its profits to France, any assistance should be given by the French taxpayer, not the UK one.

If the UK does agree to help out with megabucks then it should be either with relevant and substantial interest rates attached and/or shares in the Company transferred to UK ownership.
Totally agree ... and thanks for reinforcing elements of my earlier Posts on this subject ... not our problem .... or in Malcolm Tucker parlance NMFP ..
 
Apologies for the thread drift, but does anyone on here have experience of the weekly Eurostar ski train from London to the French Alps?

It was canned early this year, but I'm looking at using it next winter.
 
I love the urgency in that last paragraph.
What's that? You need a vaccine right now to stop people dying? Well we can hold a meeting in a few weeks...
They are all on leave, CO wanted everyone to have a empty leave card after Xmas
 
Is there some rule about EU countries offering State Aid to failing companies, oh we’re not in the EU. Maybe that’s why they are asking the U.K.
One could take that view, but of course Eurostar is French which means of course they want investment, the question is would that investment bring returns? On the other hand Connex had no problems fleecing the taxpayer running southern. I suspect the Tunnel would make money if limited to freight work alone. Take the political undertones out, the tunnel can make money, but we are no longer in the EU. The French are the ones saying that red tape will not be removed by them
 
SNCF own 55% of the shares. A Quebec based Government sponsored Investment body called Caisse de dépôt et placement du Québec own 30%, Hermes Infrastructure own 10% and Belgium own 5%.

The logic should be that if funding is required for Eurostar then the split should be should be 55% from SNCF, CDPQ 30%, Hermes 10% and Belgium 5%. And not a penny from HM Treasury. If any of these companies don't put their full share up then every penny put in by HM Treasury should be secured on shares given to HM Treasury on the basis of 55% SNCF/30% CDPQ/10% Hermes/5% Belgium at a rate of 2 shares per £1.
Let it fail. Someone will buy it up for a song and restart running it just on a more limited basis than before and then ramp back up once the COVID effects have gone. It’s not like the tunnel and infrastructure will cease to exist. The desire will obviously still be there to run trains to the continent it’s just this company is struggling because of COVID. Otherwise if the shareholders don’t want to lose most of their investment they better cough some more cash up. Too many occurrences of privately owned companies looking to governments rather than shareholders for cash when things get tight. It’s like they get the benefits of being shareholders in dividends etc but don’t want any of the risk.
 
Let it fail. Someone will buy it up for a song and restart running it just on a more limited basis than before and then ramp back up once the COVID effects have gone. It’s not like the tunnel and infrastructure will cease to exist. The desire will obviously still be there to run trains to the continent it’s just this company is struggling because of COVID. Otherwise if the shareholders don’t want to lose most of their investment they better cough some more cash up. Too many occurrences of privately owned companies looking to governments rather than shareholders for cash when things get tight. It’s like they get the benefits of being shareholders in dividends etc but don’t want any of the risk.

So an opportunity to grab some free cash im dividends and corporate tax when HM Treasury is a bit bare of said cash over a long term pay out seems daft to miss
 
So an opportunity to grab some free cash im dividends and corporate tax when HM Treasury is a bit bare of said cash over a long term pay out seems daft to miss
Ok. So let it fail and the U.K. buys it for a song. I am just uncomfortable with the UK tax payer spending good money to prevent private shareholders making a loss. Again! When did the situation where you invest money in shares at a risk change just because it’s a certain type of company?
 
Ok. So let it fail and the U.K. buys it for a song. I am just uncomfortable with the UK tax payer spending good money to prevent private shareholders making a loss. Again! When did the situation where you invest money in shares at a risk change just because it’s a certain type of company?

If a deal is stiched together where HM Treasury takes a percentage of the shares currently in the ownership of 3 public bodies and 1 private firm and those bodies lose shares to HM Treasury then how are the are the former share holders benefitting when they lose their shares ?
 
Bail out a non-British company that, continually trims it's service,continually puts obstacles in the way of genuine European competitors (DeutscheBahn and KLM) who are ready to run services across Europe and, have done feasibility trials,nah don't think so!

Eurostar's latest on services...no trains will call at Ashford for the next 2 years and, the promised St Pancras/Ebbsfleet/Ashford/Paris service kicked into touch...anybody wanting to use Eurostar catches it at St Pancras !

Remember also 'EuroStar' is just a rail company that provides a passenger train service !

The track and Tunnel is a whole different ball game !
 
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If a deal is stiched together where HM Treasury takes a percentage of the shares currently in the ownership of 3 public bodies and 1 private firm and those bodies lose shares to HM Treasury then how are the are the former share holders benefitting when they lose their shares ?
It’s a relative benefit. If it fails and is bought out of administration then they lose everything. If HM treasury chips in for shares they have lost then they haven’t lost as much. I get your plan. I just am against the government bailing out private businesses especially those majority owned by the French national railway company.
 

philc

LE
Let it fail. Someone will buy it up for a song and restart running it just on a more limited basis than before and then ramp back up once the COVID effects have gone. It’s not like the tunnel and infrastructure will cease to exist. The desire will obviously still be there to run trains to the continent it’s just this company is struggling because of COVID. Otherwise if the shareholders don’t want to lose most of their investment they better cough some more cash up. Too many occurrences of privately owned companies looking to governments rather than shareholders for cash when things get tight. It’s like they get the benefits of being shareholders in dividends etc but don’t want any of the risk.

Who ever buys it then floats on the London stock exchange.
 
...
Eurostar's latest on services...no trains will call at Ashford for the next 2 years and, the promised St Pancras/Ebbsfleet/Ashford/Paris service kicked into touch...anybody wanting to use Eurostar catches it at St Pancras !
...
A decision apparently taken in the past year, after a couple of big players announced they would be moving to Ashford area - the rail connection being the big draw.
Whether such moves now go ahead is in doubt.
ETA: Also after a deal of effort and UK cash was spent upgrading safety kit at Ashford station to meet new EU standards. The work was completed literally the night before the deadline - if they’d missed it Eurostar had said they would have stopped running - IIRC in Nov 2019 (could be wrong on the date, though).
 
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A decision apparently taken in the past year, after a couple of big players announced they would be moving to Ashford area - the rail connection being the big draw.
Whether such moves now go ahead is in doubt.
ETA: Also after a deal of effort and UK cash was spent upgrading safety kit at Ashford station to meet new EU standards. The work was completed literally the night before the deadline - if they’d missed it Eurostar had said they would have stopped running - IIRC in Nov 2019 (could be wrong on the date, though).
Spot on. The problem is...Eurostar is the only game in town. No competition !
 

Themanwho

LE
Book Reviewer
This is hilarious:


Lies, damned lies and remainers with a calculator equates to "If you squint your eyes and tilt your head, you can see a 3D dolphin, or a proactive EU"
 
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