BAE sells Orange stake

BAE sells Orange stake
Richard Wilson
British Aerospace has finally sold most of its long-standing investment in the mobile phone business. All but five per cent of its 20 per cent stake in Orange, the UK’s third largest mobile phone operator, was sold yesterday for ?764m. Speculation will now start as to how the money will be spent to strengthen BAe’s core aerospace and defence business which is already under some pressure to become part of a larger international alliance.

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