Serco falls on report to lose out on air contract
Fri 23 January, 2004 08:33
LONDON, Jan 23 (Reuters) - Shares in British services firm Serco Group SRP.L fell on Friday on a press report that it was among a consortium set to lose out on a 13 billion pound ($24 billion) air tanker contract.
The Financial Times newspaper reported that Britain was set to award the contract to a consortium led by Franco-German defence group EADS EAD.PA over a rival consortium including Boeing BA.N , BAE Systems BA.L and Serco.
"The announcement is still outstanding and we're not going to speculate on the potential of the announcement," said Kevin Johnson, Serco's head of media and public relations.
Boeing, BAE Systems and Serco each has a 31.67 percent stake in the consortium, with Spectrum Capital as a minor partner.
By 0830 GMT Serco's shares were down 2.3 percent at 185 pence, having earlier fallen to 172p.
Orion says
Buy RR and BAE, and SRP when the S$$t has settled as ther are an excellent long term bet
