Sunday, June 7, 2015

Eurotunnel sells against the heart Myferrylink its subsidiary DFDS – Reuters


       

PARIS, June 8 (Reuters) – Eurotunnel said Sunday it sold to its subsidiary against heart-Myferrylink the Danish DFDS, the tunnel under the Channel operator to have been forced to conduct this sale following a court intervened earlier this year.


       

The transaction price was not disclosed.


       

Eurotunnel would have preferred to give Myferrylink, linking Calais to Dover by sea, in a workers’ cooperative, SeaFrance SCOP, rather than DFDS.


       

In a statement, the group says has “regretted that SeaFrance SCOP has not received the support needed to make a takeover offer.”


       

On January 9, the British appellate court for Competition (Competition Appeal Tribunal) upheld the position of the authority of the British competition (competition and markets authority, AMF), ruling that the exploitation of Dover-Calais with Eurotunnel subsidiary represented a distortion of competition by abuse of dominant position in the Channel transport.


       

Myferrylink was launched in 2012 with the ships purchased by Eurotunnel SeaFrance as part of its liquidation.


       

In competition with the train for freight and passenger traffic, Myferrylink has direct rivals Danish operator DFDS and the British P & O Ferries


       

Eurotunnel, to whom justice had given six months to give Myferrylink, announced its intention to dispose of the company on May 28, which propelled in the wake Title DFDS at a record level of 854 crowns.


       

Since the beginning of the year, the action shows a gain of 42% after 35% in 2014 and + 71% in 2013. Eurotunnel shares was up by some 23% at this stage 2015, after + 40% in 2014 and + 31% in 2013. (Andrew Callus, Benoit Van Overstraeten for the French service)

       
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