Diary: Hit or Miss... Eurotunnel

Far from another coup for shareholder democracy, last week's ousting of the Eurotunnel board by rebel French shareholders seemed more of a spiteful blow to the company's last best hope of getting its finances back on track. The rebellion, led by former French presidential candidate Nicolas Miguet, confirmed the public view of a project plagued by mishap and disaster and put an end to Project Galaxy, the rescue plan agreed between Eurotunnel's banks and outgoing chief executive Richard Shirreffs. The future looks bleak.

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