No light at tunnel's end yet for Railtrack
The trading of Railtrack Group shares will not resume on the London Stock Exchange today (Monday), further delaying its subsidiary, Railtrack PLC's, exit from administration.
The trading of Railtrack Group shares will not resume on the London Stock Exchange today (Monday), further delaying its subsidiary, Railtrack PLC's, exit from administration.
Railtrack PLC was expected to come out of administration early this week. But yesterday it emerged the deal had been held up by sticking points in Railtrack Group’s sell-off of the Channel Tunnel Rail Link, part of the rescue package.
A spokesman from Network Rail confirmed the companies were ‘still in negotiations,’ but could not say when the talks were expected to reach a conclusion.
In a statement, Railtrack Group confirmed the deal had been delayed saying: ‘Certain issues are still outstanding, some of which could have prevented cash being returned to shareholders within an acceptable timescale.
‘This has caused the Board to delay signing the contracts for the sale of Railtrack PLC and the Group’s interests in the Channel Tunnel Rail Link. All parties are confident that these issues can be satisfactorily concluded shortly.’
Last week, it was widely tipped that Railtrack would come out of administration today (Monday).
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article