from a Hull correspondent
At least three consortia involving British companies will bid for the financing and management of the Channel Tunnel, following the request for offers made last week by the Minister of Transport, Barbara Castle. They are the Channel Tunnel Study Group; a second group headed by Wimpey; and another, possibly led by Costain. Each will have to prove access to some £200 million of capital with which to finance the construction, and to demonstrate its management and technical capability. When the tunnel is built a public corporation (Anglo- French) will run it. The corporation will repay the construction company, taking into account its fixed-interest debt, as well as the need "to provide a return to risk capital related to the commercial success of the enterprise." There will also be pickings in maintenance and renewal. The Channel Study Group is the favourite. Sir d'Erlanger, who has been its fount of inspiration for many years, seems certain that this is where the contract will fall. The Group has a committee of bankers including Morgan Grenfell, Lazards, Barings, Rothschilds and Schroders in Britain; a Rothschild led syndicate in France; and Morgan Stanley and Dillon Reed in America.