Wed, 14 Jan 2015 | BUSINESS SALE
Eurotunnel has put its ferry business, MyFerryLink, up for sale after it failed in its bid to overturn a ruling made by the Competition Appeal Tribunal, for the second time.
It was ruled that the ferry business must stop running out of the Dover ports for six months, as Groupe Eurotunnel had just under 50 per cent of all cross-channel custom, when combined with tunnel traffic.
Eurotunnel has now admitted defeat in its battle and has confirmed that it will not be taking the case any further. The firm has said that it feels very confident that a buyer will be found for the ferry business.
MyFerryLink was founded in 2012, with a fleet of ships from SeaFrance which were purchased by Eurotunnel following SeaFrance's slide into liquidation.
Jacques Gounon, chairman and chief executive of Groupe Eurotunnel, said: “MyFerryLink is an operating and commercial success. We are proud to have succeeded where so many others have failed. Given the position of the British authorities, the future of MyFerryLink will now be determined outside the group.”
In 2014, almost 400,000 lorries and 350,000 cars were taken across the Channel by MyFerryLink, while almost 1.4 million lorries, 2.5 million cars and 10.1 million passengers were taken by Eurotunnel in 2013, reports confirmed.
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