Racal denies rumours of telecoms division sell-off

Racal this week denied that it is about to sell all of its telecoms division, describing talk of such a sale as speculation. ‘When we announced our annual results on 7 August, chairman Sir Ernest Harrison reiterated that our strategy was a partial flotation, but that it has to be at the right time,’ said […]

Racal this week denied that it is about to sell all of its telecoms division, describing talk of such a sale as speculation.

‘When we announced our annual results on 7 August, chairman Sir Ernest Harrison reiterated that our strategy was a partial flotation, but that it has to be at the right time,’ said Racal.

Scottish Power has confirmed its interest in Racal Telecom through its subsidiary, Scottish Telecommunications. Telecoms firm Energis has denied suggestions that it is interested. A management buy-in may be another possibility.

Racal would retain equity after any partial flotation, the company stressed.