MoD to sell off QinetiQ stake -

MoD to sell off QinetiQ stake


LONDON — The U.K. Ministry of Defence is set to sell off its remaining 125million shares in QinetiQ raising up to £ 275million (about $ 485million) although the share price dropped on release of the news.

The in initial flotation in early 2006 raised nearly £300million (about $ 529million) for the MoD when the shares were sold at 200p each.

The MoD will retain a golden share in QinetiQ to allow it to veto takeover proposals.

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