Tycoon in bid for rail line

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The Independent Online

The Hong Kong billionaire Li Ka-Shing's company Cheung Kong Infrastructure (CKI) has emerged as one of the bidders vying to acquire High Speed 1, which runs the superfast 67-mile (108km) railway line from London to the Channel Tunnel.

Mr Li is chairman of Hutchison Whampoa, which owns 85 per cent of CKI. On 30 July, he struck a $9bn deal, using CKI and other vehicles, to buy Britain's biggest electricity distribution network from the French power giant EDF.

The Government is holding an auction as it seeks to raise about £1.5bn from a concession to run the HS1 route. First-round bids were due yesterday and at least three other consortia are bidding for the line.