Eurotunnel
Aux armes, actionnaires!
28 April 2007
French democracy is in full swing, but the spirit of Revolution is alive and well sous la Manche. Eurotunnel’s small shareholders, having seized control of the company, are prepared to go down — and determined to go down fighting. Their weapon is the private investors’ right to be irrational, voting on prejudice and putting the questions at shareholders’ meetings that pension funds are too polite to utter. In other companies, their holdings add up to little, leaving sober institutions to impose reason — but at Eurotunnel the big funds sold out long ago to cut their losses. The small fry are in charge. Mostly French, they own 94 per cent of the shares and are fighting a debt-for-equity swap that would hand their company to the banks. Having lost so much of their money, they’re ready to gamble what little is left and go for bust.
More articles from: Richard Northedge | this section
Post this entry to: del.icio.us | Digg | Newsvine | NowPublic | Reddit
Advertisement
The Spectator Business News Update
Soaring mining stocks lift blue chips to strong early gains
23/11/2009Phoenix IT H1 profit up despite revenue fall
23/11/2009Experian sets up joint venture in India
23/11/2009Proventec H1 loss widens to £1.0m
23/11/2009sponsored links
In this section
City pay is no side issue: it’s an affront to society
Roger BootleKeep on digging: Boris’s route to recovery
Elliot Wilson Martin Vander WeyerFor whom the tolls mean tax-free profits
Neil CollinsThere’s worse to come as we all get older
Ruth Lea
GASCONY
GASCONY, SW France, near Condom-en-Armagnac 13th Century stone house, 21st Century luxury for 12 in 5 en-suites. 50 acres +
BIG SAND STEEL BAND
IF YOU ARE PLANNING A CHAMPAGNE RECEPTION and looking for some light entertainment, you can now hire London's busiest steel
BOSC LEBAT, Tarn et Garonne.
BOSC LEBAT, SW France. Only 45 minutes from Toulouse Airport with daily flights from most provincial airports avoiding the horrors
Spectator Business | Apollo Magazine
Corporate | Advertising | Privacy | Terms
Spectator, 22 Old Queen Street, London, SW1H 9HP
All Articles and Content Copyright ©2009 by The Spectator | All Rights Reserved
Be the first to comment on this article!
Back to top