Government to help Railtrack shareholders - papers 11 Oct

The UK government attempted to mend its bridges with furious Railtrack shareholders yesterday,by pledging to help the company access £370m in cash to compensate investors, reports the FT this morning. Still reeling from the City backlash over the government's decision to force Railtrack into administration, ministers signalled that the money, frozen by Railtrack's bank, should be released. However, Stephen Byers, transport secretary, has refused a request by Railtrack to use public money to compensate shareholders at the rate of £3.60 a share - the price at which the company floated ...