Downing Street Says » QinetiQ Shares

» Monday, January 30, 2006

QinetiQ Shares

Asked if the Prime Minister was happy with the huge profits that QinetiQ had made, the PMOS said that the Prime Minister would agree with John Reid, who had set out the case on Thursday. The Government had only sold a minority share, and therefore the tax payer had benefited by the eight-times increase in the value of the company, as much as any other shareholder. Therefore, it had turned out to be a good deal for the tax payer.

Put that was not what the market had said, the PMOS said the market had said it was eight times more valuable than it was in this period eight or ten years ago.

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