UK's Ministry of Defence: Looking to Cash Out of QinetiQ Stake
July 4 2008 | 0 comment(s)
As we blogged about before, the UK Government retained a sizable but minority stake in Qinetiq which was floated in 2006 and has a current value of £1.32 billion. Now rumours are swirling that the Government is ready to sell its stake in the defence technology company. This would bring approximately £250m. The Financial Times reports that Merrill Lynch is advising the MOD on the sale and that the Government doesn't want any single buyer to take on the 18.92 percent currently held and evidently has plans to keep "a "golden share" to veto a takeover if necessary."
The article goes on to mention some potential interested parties include Italy's Finmeccanica and EADS, the Franco-German firm with one source being quoted as saying, "If the Treasury gets its way, the stake will be offloaded before Parliament breaks for the summer."
This comes on the tail of the sale of the UK Government's remaining stake of 35 percent in British Energy.
Previous articles
August 2008 - 2 article(s) | show
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| GSC open-ed article in Biometric Technology Today: "Taking Innovation to Market" | August 4 2008 |
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| Global Security Challenge Competition 2008 Opened for Entrants Today! | April 15 2008 |
| Controversy about UK's Holding Period for Terrorist Suspects - Why not use technology to enhance police capabilities? | April 14 2008 |
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| German Government Provides €29 Million in Funding for Explosive Research | April 6 2008 |
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