Railtrack is expected to announce an internal restructure today that will divide the group into three.
One of the divisions will be “property and other activities”. It will be managed by John OBrien, head of property.
The infrastructure company is expected to warn it needs another £2bn on top of an existing budget of £14.9bn to help pay for increased maintenance and track replacement work when it announces its end of year results today, says the Financial Times. These are likely to record a pretax loss of more than £400m.
The Independent says it needs to borrow another £4bn.
Financial Times 24/05/01 page 23
The Independent 24/05/01 page 21
