Groupe Eurotunnel to sell its MyFerryLink business
France-based Groupe Eurotunnel has decided to sell its subsidiary MyFerryLink, an English Channel passenger and freight ferry company, following a UK Court's decision to block its operation between Dover and Calais.
The Competition Appeal Tribunal (CAT) prohibited Groupe Eurotunnel from entering the Dover-Calais ferry market, saying that its acquisition of SeaFrance in 2012 allowed the company to hold a dominant share of the cross-channel market.
After this purchase, Groupe Eurotunnel subcontracted the operation of the ferries Rodin, Berlioz and Nord-Pas-de-Calais to an independent company, the SCOP SeaFrance.
A statement from Groupe Eurotunnel read: "This decision is illogical.
"It reduces competition across the short straits and it is contrary to the interests of free trade. The CAT is forcing Groupe Eurotunnel to withdraw from this activity."
The company had argued that the Competition and Market Authority has no power to make this decision, as SeaFrance ceased business after its acquisition by the company, Skift reported.
MyFerryLink started operations in 2012 and has transported around 400,000 trucks and 350,000 cars so far.
Groupe Eurotunnel Chairman and CEO Jacques Gounon said: "MyFerryLink is an operating and commercial success.
"We are proud to have succeeded where so many others have failed. Given the position of the British authorities, the future of MyFerryLink will now be determined outside the group."