Virgin eyes train routes from UK to EU capitals

Businessman Richard Branson's Virgin Group is seeking to raise 700 million pounds ($905 million) in a bid to launch a rival train service to current monopoly holder Eurostar on routes between the United Kingdom and mainland Europe.

The Virgin Group began in the music industry but has grown to include finance, airlines, and the running of intercity train services across the UK. It is understood that it would initially want to run rival services to those of Eurostar — from London to Paris and Brussels by the end of the decade, adding Amsterdam at a later date.

"The cross-Channel route is ripe for change and would benefit from competition," said a Virgin Group representative. "While Virgin is not committing to launching a service just yet, we are seeking investment from like-minded partners to invest alongside Virgin and we are delighted with the progress made so far."