Owner of London attractions to float

The London Eye on the Southbank, which is owned by Merlin Entertainments Credit: Reuters

The company which owns many of top tourist attractions has announced plans to float on the stock market.

Merlin Entertainments, which owns the London Eye, Madame Tussads and legoland is believed to be worth as much as 3 billion pounds.

The public will be able to buy shares in the company, which will enable it to pay down debt and plan for future development.

The company generated revenues of more than £1 billion last year and is Europe's leading visitor attraction operator and the second largest globally after Walt Disney.