P and O hurt in tunnel war
Article Abstract:
P and O has seen a drop in its market share for travel across the English Channel to some 30% from 40%. Eurotunnel has increased its share of traffice from Dover to Calais to 40%. P and O is seeking rationalization in the sector, and is asking the UK government to end an undertaking which bans takeovers and mergers among ferry companies. This would allow P and O to operate with rivals on some routes, and allow the company to make an acquisition, with Stena a possible target.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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P and O's Dutch tie-up may lead to ferry merger
Article Abstract:
P and O plans a container shipping JV with Nedlloyd. The announcement of this plan led to a rise in P and O's share price. The industry is affected by overcapacity and P and O saw a drop in operating profit from this activity in 1995. The long-term health of the JV could still be affected by overcapacity. Nedlloyd has seen a drop in profit of over 50% since the end of the 1980s and was forecast to report a loss in 1997 before the JV was announced.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Tunnel threat piles on the gloom for builders
Article Abstract:
Eurotunnel may take legal action against building contractors to secure compensation. The company is likely to claim that work carried out has been faulty. The companies concerned include Costain, Tarmac and Taylor Woodrow, and their share prices could be affected. Critics argue that Eurotunnel's threat is linked to a refinancing crisis. UK construction companies are already hard hit by recession, and this threat creates further problems.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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