Jetstream Rider
Can't remember exactly, but didn't the government bail out NATS the year after they were privatised?
No, the PPP was refinanced with the Dept for transport and a new investor, BAA, putting in equal amounts. (in order to maintain the public/private ratio).
The "golden share" thing is all about the Government being able to rescue the situation if NATS is badly managed.
No, the 'Golden Share' is about the Government having the controlling share in its national (security) assest. And that's why the Govt. had to put in more money when BAA came on board - it would have given private industry the controlling share and effectively ended the PPP. The PPP would also have been ended had the Govt. put in the whole amount.