Eurotunnel ring-fencing


Eurotunnel had a tough year in 2001. However, this year the company’s bondholders and investors are likely to see improvements, in part due to the introduction of a five-metre military-style perimeter fence and the appointment of an ex-French army officer as security head.

Its annual results, published last month, reflected a series of financially detrimental events, including the outbreak of foot-and-mouth disease and 54,000 immigrants using the tunnel in attempts to illegally enter the UK.


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