Arab Today, arab today eurotunnel seeks probe into news of eu ruling
Last Updated : GMT 06:53:25
Arab Today, arab today
Arab Today, arab today

Eurotunnel seeks probe into news of EU ruling

Arab Today, arab today

Arab Today, arab today Eurotunnel seeks probe into news of EU ruling

Paris - AFP

Channel tunnel operator Eurotunnel is to ask market watchdogs to probe how a European Commission ruling on its tariffs was announced, the firm announced on Tuesday saying the company\'s market value had been cut by 500 million euros. On Thursday the European Commission told Eurotunnel, which operates the undersea tunnel between France and England, to cut its charges for passenger and freight trains using the route. The Commission argued that the charges were too high and were discouraging the development of rail traffic and particularly the movement of freight. Analysts said that this pressure, if realised, would weigh on the company\'s profits. The price of shares in Eurotunnel fell by 12.27 percent on Thursday and by 6.46 percent on Friday to 5.13 euros on the Paris stock market. Eurotunnel chief executive Jacques Gounon announced that the company would ask for an investigation, in a letter to shareholders and published on the company\'s website. He said that \"five hundred million euros ($656 million) of value was destroyed in two days after the publication last Thursday during stock market trading hours of a press statement by the European Commission concerning, among other things, tariffs for the Channel tunnel.\" Gounon said that press reports about this had been published \"even before the statement was made\". The company would therefore ask market authorities in France and Britain, where the company is also listed, to check that privileged information published in the press and on social networks \"even before the European Commission\'s statement was published\" did not involve \"breaches of stock market law.\" Gounon objected that the reports had been published before Eurotunnel was aware of the Commission\'s statement. The Commission also ruled that Eurotunnel had to end an arrangement whereby it allocated opportunities to use the tunnel to certain rail companies, in France the SNCF, for 65 years. The two countries now have two months in which two respond to the Commission\'s ruling. If they do not do so, the Commission may then seize the EU Court of Justice which has the power to impose financial penalties. Eurotunnel\'s move is based on a requirement, particularly on the London stock market, that certain types of regulatory information be made available equitably to a wide audience, and usually outside trading hours. The improper use of such privileged and regulatory information can constitute an offence of insider trading.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurotunnel seeks probe into news of eu ruling Arab Today, arab today eurotunnel seeks probe into news of eu ruling

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurotunnel seeks probe into news of eu ruling Arab Today, arab today eurotunnel seeks probe into news of eu ruling

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday