Eurotunnel Coup and counter-coup

It took far longer to build then expected, and cost much more too. So if Eurotunnel is true to form, the resolution of this latest chapter in its messy saga may take longer than many expect as well. Whoever wins the boardroom battle on Friday, Eurotunnel will still have a E9.6bn (£6.4bn) debt problem. French shareholders will continue to resist dilution from another debt-for-equity swap. And board members will probably remain at each other’s throats. This promises drama, but not a final denoueme...