London to Folkestone high-speed rail link sold

The UK government has sold the London to Folkestone high speed rail link to a Canadian consortium for £2.1bn ($3.4bn).

The consortium will take over a 30 year lease on the track and stations.

Analysts had been expecting the rail link, known as High Speed one (HS1), to be sold for a price of between £1.5bn and £2bn.

Transport Secretary Philip Hammond said the concession would lead to more services on the line.

BBC News