DEBT-LADEN Eurotunnel has warned investors that attempts by rebel shareholders to unseat the board are putting their investment at risk.
Directors said the Channel Tunnel operator could end up in the hands of creditors if the rebels won a crunch vote at a company meeting in April.
The rebels - led by Nicolas Miguet and French shareholder association Adacte - have called for a new board to be set up to renegotiate the company's £6.4bn debt mountain.
But their stance was denounced as "amateur and improvised" by Eurotunnel directors and represented the "culmination of several months of repeated attempts to destabilise the company".
Chief executive Richard Shirrefs outlined a restructuring plan last month - known as the Galaxie Project.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article