British billionaire Richard Branson's Virgin Group aims to raise 700 million pounds ($900 million) to fund its bid to launch cross-channel rail services to compete with Eurostar, the Financial Times reported on Sunday.

Sir Richard Branson’s Virgin Group is looking to raise £700mn to fund its bid to launch new cross-channel rail services to compete with Eurostar. Virgin Group told the Financial Times that it intends to raise £300mn in equity and £400mn in debt,

Virgin Group Seeks 700M to Challenge Eurostar with Cross-Channel Rail Service Virgin Group, led by British billionaire Richard Branson, is aiming to raise 700 million ($900 million) to launch a high-speed rail