GET: Groupe Eurotunnel SA: Groupe Eurotunnel Describes as Absurd The Competition and Markets Authority Decision to Ban

  GET: Groupe Eurotunnel SA: Groupe Eurotunnel Describes as Absurd The
  Competition and Markets Authority Decision to Ban MyFerryLink from Dover

UK Regulatory Announcement


The Competition and Markets Authority (CMA) has just confirmed the decision
that it made last year (June 2013), to ban the ferries Berlioz and Rodin from
the port of Dover for ten years:

Groupe Eurotunnel (Paris:GET) stated that:

  *The decision of June 2013 was rejected on appeal in December of 2013, as
    the purchase via public auction of the assets of a business that had been
    liquidated nine months previously could not be considered as the
    acquisition of an enterprise,
  *The short straits freight market has changed dramatically, in terms of
    competition and growth since 2011/2012, when SeaFrance went into
  *The current freight market shares by operator: Eurotunnel: 37%, P&O: 29%,
    DFDS: 24%, MyFerryLink: 9% show that the competitors in the ferry market
    have strong positions that are in no way threatened by MyFerryLink.

The analysis made by the CMA is the opposite of that made by its French
counterpart, even though it relates to the same market.

Groupe Eurotunnel asked the CMA to seek a convergence of views with its French
counterpart, through the offices of the European Commission. Groupe Eurotunnel
cannot understand why the CMA refused such an opportunity to resolve this

Groupe Eurotunnel believes that by removing one competitor from the market,
the CMA is creating a de facto duopoly in the maritime sector which will lead
to an increase in prices for consumers and a reduction in revenues for the
ports of Dover and Calais, without taking account of the social drama it will
generate for the 600 employees of the SCOP.

Groupe Eurotunnel is astonished by the length of the prohibition, which
includes any minority participation, and also that the CMA recommends selling
the ships to another operator. Groupe Eurotunnel can only appeal such an
un-just decision.

Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SA
stated: “The decision by the CMA is a denial of the reality of the situation.
It penalises the consumer and puts 600 people out of work without any real

Eurotunnel Press:
For UK media enquiries:
John Keefe, + 44 (0) 1303 284491
For investor enquiries contact:
Jean-Baptiste Roussille, +33 (0)1 40 98 04 81
Michael Schuller, +44 (0) 1303 288749


Groupe Eurotunnel SA
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