QinetiQ (Hansard, 10 April 2002)

§ Mr. Key
To ask the Secretary of State for Defence what percentage of the equity of QinetiQ the Government will retain as the golden share. [47646]

§ Dr. Moonie
I refer the hon. Member to the answer I gave on 6 March 2002,Official Report,columns 313–14W to my hon. Friend the Member for St. Helens, North (Mr. Watts). The right required by the Government to protect the United Kingdom defence and security interests can be provided through the retention of a single special, or golden, share, it does not require the retention of any additional percentage of the equity.

§ Mr. Key
To ask the Secretary of State for Defence if he will list those who have expressed interest in becoming a strategic partner to QinetiQ. [47644]

§ Dr. Moonie
In response to an advertisement in the press, almost 40 parties have expressed interest in becoming a strategic partner to QinetiQ. In order to achieve best value for the taxpayer, the Government are seeking to maintain a high degree of competitive tension among potential bidders. Publishing a list of interested parties at this stage in the process would not be consistent with this objective.

§ Mr. Key
To ask the Secretary of State for Defence what percentage of the equity of QinetiQ will be available to strategic partners. [47647]

§ Dr. Moonie
I refer the hon. Member to the answer I gave on 6 March 2002,Official Report,columns 313–14W, to my hon. Friend the Member for St. Helens, North (Mr. Watts). The percentage of equity in QinetiQ that will be available to strategic partners will be determined as part of the negotiation process, but it is likely that the strategic partner will have the opportunity to acquire a substantial minority or a small majority stake.