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Tunnel shares slide
NEWLY issued shares in Channel tunnel rail operator Groupe Eurotunnel (GET) have fallen by more than 40 per cent on their first day of trading in Paris. Existing Eurotunnel shares were swapped for shares in the newly created Groupe Eurotunnel after the firm agreed a deal with its creditors to cut its debt. But analysts set a target price for the new GET shares well below the level at which they were issued.
GET shares were trading down 42.8 per cent at 44. Societe Generale envisages the newly issued shares trading at about 26 within a year.
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Weather for Edinburgh
Sunday 27 May 2012
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Temperature: 10 C to 22 C
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