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Sir Richard Branson’s Virgin Group is looking to raise £700mn to fund its bid to launch new cross-channel rail services to compete with Eurostar. Virgin Group told the Financial Times that it intends to raise £300mn in equity and £400mn in debt, and that it plans to be a cornerstone equity investor in the project.

Virgin Group Seeks 700M to Challenge Eurostar with Cross-Channel Rail Service Virgin Group, led by British billionaire Richard Branson, is aiming to raise 700 million ($900 million) to launch a high-speed rail

Virgin Group intends to raise 300 million pounds in equity and 400 million pounds in debt and plans to be a cornerstone equity investor in the project

Richard Branson 's Virgin Group is aiming to challenge Eurostar 's dominance with a £700 million fundraising effort to launch its own cross-channel rail service. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.