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« Metronet black hole bodes ill for PFI | Main | Infrastructure securities could be getting place at table »

July 22, 2007

How Metronet came off the rails - and why investors lost 350m pounds

Source: Guardian

This week's London Underground fiasco demonstrates the problem with Brown's partnership dream, says Heather Stewart

Ken Livingstone might have been tempted to say 'I told you so', if he hadn't just been landed with a 2bn pound headache. When Metronet, the motley consortium upgrading most of London's tube lines on a Byzantine 30-year contract, went dramatically bust last week, the mayor of London - who had the deal foisted on him by Gordon Brown after a furious battle - was left with the bill.

Full Story...

Posted by pichu at July 22, 2007 11:54 AM