Groupe Eurotunnel to Challenge Competition Commission Provisional
The Competition Commission has today, 19 February 2013, announced its
provisional findings in relation to the acquisition by GET SA
(Paris:GET) of assets previously owned by SeaFrance and the creation of
a new competitor in the cross-Channel market, MyFerryLink.
Eurotunnel is not surprised at the position of the Competition
Commission, but will challenge the provisional findings which conclude
that the addition of the new operator, MyFerryLink, would be detrimental
to competition and could lead to an increase in prices.
Eurotunnel contends that, since the favourable opinion given by the
French Competition Authorities in 2012, it would appear the existing
ferry operators in the Short Straits market have sought to use the
process initiated by the British Competition Authorities to protect
their own interests from new entrants and increased competition.
Eurotunnel considers that the acquisition of the ex SeaFrance ships,
nine months after that company ceased all operations, and the creation
of a new competitor in the cross-Channel marketplace, MyFerryLink,
constitutes an increase in competition and brings additional choice for
This sentiment is supported in the Competition Commission's summaries of
hearings with cross-Channel customers, using both ferry and Tunnel
services themselves, and which are published on its own website. 1
Speaking at the Group’s Headquarters this morning, Jacques Gounon,
Chairman and Chief Executive Officer of Groupe Eurotunnel SA said: “Eurotunnel
intends to continue to work with the Competition Commission to allay the
concerns raised by existing ferry operators and to demonstrate that the
creation of MyFerryLink is a good thing for the market as it is both
pro-customer and pro-competition”.
Eurotunnel Press Contact:
media enquiries contact John Keefe Consultant on + 44 (0) 1303 284491
investor enquiries contact Michael Schuller on +44 (0) 1303 288749