PPP chiefs 'inundated with Tube offers'

Private-sector chiefs about to take over the largest section of the Tube said today they have been "over-subscribed" by banks willing to fund the controversial scheme.

Metronet, the consortium which will take over two thirds of the network, says it will soon have in place the required £3 billion and will be in a position to sign final contracts with LU at the beginning of next month.

There had been speculation that funds would be difficult to raise because of problems re-opening the Central line after a derailment.