Eurotunnel 'considers cash call'

Eurotunnel has slashed its debt

Channel Tunnel operator Eurotunnel has asked for its shares to be suspended ahead of what it said was an "important" announcement on Monday.

The BBC understands that the firm is set to announce a rights issue in which it will seek to raise 900m euros (£709m) in capital from shareholders.

France's stock market regulator is expected to approve the move on Monday.

Eurotunnel was hamstrung by high debt levels for many years, but carried out a complex restructuring in 2007.

As a result, its debts were more than halved to about 4bn euros.

Boosted by this huge programme of debt restructuring, the firm reported its first profit last year when it made 1m euros ($1.6m; £795,000).

The firm said the result showed that it had "broken" with its troubled financial past.

It is not yet clear what Eurotunnel will use the proceeds of the rights issue for.