French investors are buying fewer of the...

French investors are buying fewer of the Eurotunnel shares being offered them than their British counterparts purchased in a companion sale in Britain, said Indosuez Banque, an underwriter of the French portion of the stock offering. About 60% of the shares offered in France had been applied for, compared to 80% in Britain. The 31-mile railway tunnel under the English Channel is expected to cost $11 billion (U.S.), with $1.4 billion coming from the stock sale and the rest from bank loans.