A high-speed rail line is planned for 2012 between London and Madrid. France and Spain will team up to build it.
"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."
Read the full story: Rail offers London to Madrid in eight hours
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