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Eurotunnel buys GB Railfreight

Groupe Eurotunnel is on the brink of snapping up the UK’s largest rail-freight operator for £30m. The French group is desperate to expand its cross-Channel operations and has had FirstGroup’s GB Railfreight business in its sights for some time. It will link the firm with the Veolia Cargo business it acquired last year to ramp up its volumes of cross-Channel traffic. Groupe Eurotunnel beat off competition from SNCF, the firm seen as the race leader, after placing a higher bid. FirstGroup bought GB Railfreight in 2003.