TECHNOLOGY - Oct. 2, 1991
From Times Staff and Wire Reports
Britain to Cut Stake in Telecommunications Firm: The British government launched an $8.8-billion stock sale that will further cut its stake in British Telecommunications PLC and is aimed at small investors. The sale, which originally was to be managed by Salomon Bros., was given over to S. G. Warburg & Co. after a U.S. Treasury auction scandal forced Salomon’s top executives to resign. At least half the shares being offered will be set aside for non-institutional buyers, Warburg said. The final price will be fixed just before dealings start in November.
