Mon, 08 Jun 2015 | BUSINESS SALE
Calais to Dover ferry service MyFerryLink has been sold by Eurotunnel to Danish competitor DFDS for an undisclosed sum.
Eurotunnel, which operates the undersea rail link between France and the UK, was the subject of a lengthy battle with the British competition regulator as a result of its operation of both services.
The UK watchdog, the Competition and Markets Authority (CMA), claimed that Eurotunnel should be barred from operating MyFerryLink as this meant it had control over more than half of the cross-channel market.
Further cause for concern was highlighted by the CMA when it noted that Eurotunnel's market share could be increased yet higher should any of its cross-channel ferry competitors fold. As a result the watchdog ordered a sell-off about a year ago.
The offer from DFDS is “binding” although the price has not been disclosed.
A stock exchange statement from Eurotunnel, issued today (Monday, 8 June 2015), read: “Completion of this sale which will lead to two maritime operators of equal importance.
“With this sale, the Eurotunnel Group will ensure that the activity remains in Calais, a situation which was not achieved when the SeaFrance Moliere [a ferry] was sold by its owner, Credit Lyonnais, to be operated in the Irish Sea.”
The group added that it believes DFDs presents “hope for the best solution possible with regard to preserving employment, without interruption to services”.
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