Having allowed large parts of Plessey Co Plc to go to Siemens AG, it would be politic for the British government to ensure that any rescue for Ferranti keeps the company in British hands, which strenghthens the case for British Aerospace Plc heading any rescue – and the government can justifiably argue that given the knock-down terms on which BAe got Rover Group and Royal Ordnance, particularly with regard to the realisable property assets in those businesses, the firm owes the government a favour.
