LONDON, June 24: Anglo-French Channel Tunnel operator Eurotunnel said on Tuesday it hoped to reach at least an agreement in principle by July 10 with the French and British governments regarding the extension of its concession.

Eurotunnel also urged shareholders to approve its debt restructuring plan at an extraordinary general meeting, which was rescheduled for July 10 after Tuesday's meeting failed to attract a sufficient number of shareholders.

Eurotunnel's shares slipped 1.0 pence to 66.5 by 0830 GMT in London.

French shareholders who are fighting the terms of the restructuring of just under 9.0 billion pounds ($15 billion) of debt said on Monday they could have enough votes for a blocking minority at the July 10 meeting.

But chairman Patrick Ponsolle warned that the debt-crippled company could risk insolvency if shareholders failed to back the restructuring."It is now or never," he said in a statement.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.