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Channel Tunnel operator Eurotunnel has dismissed as speculation reports this week that it will need to raise an extra £850 million from shareholders to stay in business.Analysts say this cash is needed before the tunnel can open fully, but it is 20 per cent more than had been expected. Eurotunnel is having to pay debt on loans, but cannot earn revenue until the tunnel is working.The company also needs a further £700 million in further bank loans before it can raise more from shareholders. Japanese banks are thought to have been reluctant to lend more to the project.A Eurotunnel spokeswoman said: 'This is speculation. We have nothing more to say.'But Richard Hannah, transport analyst with broker UBS, said: 'If they do not get the cash they will not be able to open the tunnel fully. The shareholders don't really have any option.'Freight services are due to begin today (Thursday). CONSTRUCTION NEWS