Another major case of me being completely befuddled.

Just read this and try and explain it to me in English.

My questions are:

1) What did everyone think London & Continental Railways was yesterday?

2) How did nobody their actual status until now? It’s not like the government’s assistance to the Chunnel project was a big secret. It was 7 years ago for crying out loud!
3) 1 & 2 are premised that people simply ‘misunderstood’ the companies status until now. If their status has in fact changed rather than been clarified, under what power was it done?

4) “After a lengthy investigation, the ONS disclosed that a government guarantee for £3.7bn of LCR’s borrowing gives ministers the power to force a sale of the business and pocket 90% of the proceeds. Ministers can institute boardroom changes and claw back a share of LCR’s cashflow.” – Was this a condition of the original guarantee or a knockon effect of it?

In short, just what the heck is going on?

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