The Secretary of State for Transport (Mr Patrick McLoughlin)
I can today inform the House that the Department for Transport has transferred its 40% stake in Eurostar (held through London and Continental Railways) to Her Majesty’s Treasury.
This is to address any perceived or actual conflict of interests resulting from the interaction between the Government’s stake in Eurostar and the east coast franchise competition, and in particular any perception of bias arising out of the Secretary of State’s shareholding in London and Continental Railways.