In an effort to lower the national debt, the British government is planning to offload its 40-percent stake in the high-speed train company Eurostar. Bids will be accepted through the end of October. George Osborne, UK chancellor, said the government hopes to close the sale in the first quarter of 2015 ahead of the general election in May. The government, which has owned a part of Eurostar for 20 years, is hoping to raise GBP 300m from the sale.
“I am determined that we go on making the decisions to reform the British economy and tackle our debts. So we will proceed with the potential sale of the UK’s shareholding in Eurostar today,” Osborne said. “As part of our aim to achieve GBP 20bn from asset sales by 2020, the sale proceeds would make an important contribution to the task of reducing the public sector debt.”
