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BUSINESS
October 12, 1993 | From Associated Press
As the undersea tunnel linking England and France nears its opening, its costs are rising, but revenue projections for the next few years are shrinking. Eurotunnel operators said Monday that they will ask shareholders for at least $767.8 million to avoid running out of cash next spring. The 31-mile Channel Tunnel between Folkestone in southern England and Calais in the north of France is an ambitious work of engineering that may revolutionize travel between Britain and continental Europe.
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BUSINESS
July 31, 1995 | Times Staff and Wire Reports
2 Banks Confirm Eurotunnel Probe: Swiss Bank Corp. and Salomon Bros. said they are under investigation by the Paris stock market watchdog agency for alleged insider trading in Eurotunnel shares. Both denied wrongdoing. The Commission des Operations de Bourse sent a report to the public prosecutor alleging insider trading by two banks that took part in underwriting a share rights issue last year by Eurotunnel, the Channel Tunnel operator.
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BUSINESS
July 31, 1995 | Times Staff and Wire Reports
2 Banks Confirm Eurotunnel Probe: Swiss Bank Corp. and Salomon Bros. said they are under investigation by the Paris stock market watchdog agency for alleged insider trading in Eurotunnel shares. Both denied wrongdoing. The Commission des Operations de Bourse sent a report to the public prosecutor alleging insider trading by two banks that took part in underwriting a share rights issue last year by Eurotunnel, the Channel Tunnel operator.
BUSINESS
May 27, 1994 | From Times Staff and Wire Reports
Chunnel Taps Shareholders, Predicting Losses: Operators of the Channel Tunnel said they will need another $2.26 billion to keep the undersea passage from England to France in business over the next few years. Eurotunnel, which opened the tunnel months late and billions of dollars over budget, is nearly broke and says it needs the cash to stay alive until it can break even. The company asked shareholders to put up an additional $1.22 billion and said bankers have agreed to kick in another $1.
BUSINESS
February 9, 1994 | From Times Staff and Wire Reports
The Anglo-French company announced that it will miss another opening deadline but admitted that this time there was nobody to blame but itself. The company said it will be unable to meet the March 7 start of freight service and might even have to delay the May 8 start of passenger service because its testing program is taking longer than planned. But co-Chairman Andre Benard told French radio that he still hopes freight services can start in March. The official state opening on May 6 of the $14.
NEWS
May 6, 1994
For the first time since the Ice Age, Britain and the European Continent are physically connected. Dubbed the Chunnel by locals, the English Channel tunnel will be christened by England's Queen Elizabeth II and French President Francois Mitterrand today. Travelers may drive their vehicles aboard Le Shuttle or ride traditional-style Eurostar trains from London and Paris. Cross Comparisons The Eurotunnel will offer travelers another method of crossing the English Channel.
NEWS
November 26, 1991 | WILLIAM TUOHY, TIMES STAFF WRITER
Just a few months ago, it seemed that all systems were go for the English Channel Tunnel--the first land link between Britain and the Continent since the melting of the Ice Age 10,000 years ago. The underwater tunneling was completed; work continued apace on the $15-billion project that will ferry passengers and freight by rail, and it appeared that June, 1993, start-up deadline would be met.
NEWS
May 7, 1994 | WILLIAM TUOHY, TIMES STAFF WRITER
Queen Elizabeth II and French President Francois Mitterrand inaugurated the English Channel tunnel Friday, the first land link since the Ice Age between the island of Britain and the European Continent. Both heads of state opened new rail terminals in their respective capitals of London and Paris before meeting at Calais, France, for a ride through the tunnel, which cost $15 billion and took seven years to build.
BUSINESS
May 27, 1994 | From Times Staff and Wire Reports
Chunnel Taps Shareholders, Predicting Losses: Operators of the Channel Tunnel said they will need another $2.26 billion to keep the undersea passage from England to France in business over the next few years. Eurotunnel, which opened the tunnel months late and billions of dollars over budget, is nearly broke and says it needs the cash to stay alive until it can break even. The company asked shareholders to put up an additional $1.22 billion and said bankers have agreed to kick in another $1.
NEWS
May 7, 1994 | WILLIAM TUOHY, TIMES STAFF WRITER
Queen Elizabeth II and French President Francois Mitterrand inaugurated the English Channel tunnel Friday, the first land link since the Ice Age between the island of Britain and the European Continent. Both heads of state opened new rail terminals in their respective capitals of London and Paris before meeting at Calais, France, for a ride through the tunnel, which cost $15 billion and took seven years to build.
NEWS
May 6, 1994
For the first time since the Ice Age, Britain and the European Continent are physically connected. Dubbed the Chunnel by locals, the English Channel tunnel will be christened by England's Queen Elizabeth II and French President Francois Mitterrand today. Travelers may drive their vehicles aboard Le Shuttle or ride traditional-style Eurostar trains from London and Paris. Cross Comparisons The Eurotunnel will offer travelers another method of crossing the English Channel.
BUSINESS
February 9, 1994 | From Times Staff and Wire Reports
The Anglo-French company announced that it will miss another opening deadline but admitted that this time there was nobody to blame but itself. The company said it will be unable to meet the March 7 start of freight service and might even have to delay the May 8 start of passenger service because its testing program is taking longer than planned. But co-Chairman Andre Benard told French radio that he still hopes freight services can start in March. The official state opening on May 6 of the $14.
BUSINESS
October 12, 1993 | From Associated Press
As the undersea tunnel linking England and France nears its opening, its costs are rising, but revenue projections for the next few years are shrinking. Eurotunnel operators said Monday that they will ask shareholders for at least $767.8 million to avoid running out of cash next spring. The 31-mile Channel Tunnel between Folkestone in southern England and Calais in the north of France is an ambitious work of engineering that may revolutionize travel between Britain and continental Europe.
NEWS
November 26, 1991 | WILLIAM TUOHY, TIMES STAFF WRITER
Just a few months ago, it seemed that all systems were go for the English Channel Tunnel--the first land link between Britain and the Continent since the melting of the Ice Age 10,000 years ago. The underwater tunneling was completed; work continued apace on the $15-billion project that will ferry passengers and freight by rail, and it appeared that June, 1993, start-up deadline would be met.
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