The government has confirmed it is seeking buyers for its 40% stake in Eurostar to help boost the public finances.
The intention to sell the holding in the Channel Tunnel high speed passenger rail service was set out last year in the government’s Autumn Statement and National Infrastructure Plan.
The Treasury is hoping to attract bids of up to £300 million for the shareholding.
Chancellor George Osborne said: “I am determined that we go on making the decisions to reform the British economy and tackle our debts. So we will proceed with the potential sale of the UK’s shareholding in Eurostar today.
“Ensuring that we can deliver the best quality infrastructure for Britain and the best value for money for the taxpayer are key parts of our long-term economic plan.”
Osborne added: “As part of our aim to achieve £20 billion from assets sales by 2020, the sale proceeds would make an important contribution to the task of reducing the public sector debt.”
The Treasury controls its share of Eurostar through London & Continental Railways, the remaining nationalised part of the old British Rail. SNCF, France’s state-owned rail operator, holds 55% and the Belgian government owns the remaining 5%.
Companies interested in purchasing the stake have until the end of this month to notify the Treasury.
The government said it expects to reach “definitive agreements” in the first quarter of 2015.
Eurostar began service in 1994 and has since carried more than 145 million passengers, with more than 10 million in 2013 alone.