"Spain and France are to form an as yet unnamed company to run the high-speed link between the capitals of both countries.
The company will be jointly run by Renfe, the Spanish state rail operator, and SNCF, the French rail operator, with each taking a 50 per cent stake. It will be operated from Spain.
Renfe is planning to invest €300 million (£273 million) buying ten trains to service the new line."
