Eurotunnel disowns rescue plan 'backed by Soros'

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By Jenny Davey



EUROTUNNEL, the heavily indebted operator of the Channel Tunnel, sought to distance itself yesterday from a rescue plan proposed by George Berlioz, a Parisian lawyer reported to have the backing of George Soros, the billionaire financier.

A spokesman for Eurotunnel, which has admitted it has only four months to come up with a rescue plan or face bankruptcy, said that M Berlioz was a former legal adviser who did not work for the current administration and had no authority to speak on its behalf.

The spokesman said that M Berlioz had not been in contact with the company about his plans to seek a solution to the group’s £6 billion debt crisis by seeking intervention from French courts.

“He is a regular commentator on Eurotunnel matters, but this plan is news to us,” the spokesman said. “Our position is very clear — this is not a Eurotunnel proposal.”

http://www.timesonline.co.uk/newspaper/0,,170-1661339,00.html