Controversy dogs the privatisation of the British Technology Group Plc (CI No 1,840), as an American competitor, non-profit making trust Research Corporation Technology of Arizona, is said by the Independent to be arranging a hostile bid backed up by information gathered through the bidding procedure on BTG’s licensing and patenting agreements. BTG marketing manager Tony Chrismas acknowledges that RCT is a competitor but is keen to play down reports of a hostile bid. Meanwhile the sell-off is shrouded in secrecy. The Financial Times reports that the government and Price Waterhouse, its financial adviser on the sale, are withholding information on potential bidders. Preliminary proposals were submitted four weeks ago and shortlisted consortia have to put in final bids by February 19. However, neither Price Waterhouse nor the Department of Trade and Industry will talk about the submissions. BTG chief executive Ian Harvey says, the names of the second round bidders, the criteria on which they will be evaluated and their intentions for the group, should be made public.
