Some intriguing City gossip – well with no business being done these days, the poor dears have nothing else to do – aired in yesterday’s Independent has STC Plc following less than sparkling full year figures next month by making a bid for Plessey Co Plc to get its hands on the latter’s defence business: the argument goes that STC covers perhaps half the cost by selling on to GEC Plc the 50% that Plessey will hold in the planned GEC & Plessey Telecommunications Ltd – and the Plessey semiconductor business might well go too, on the Independent’s argument leaving STC with Plessey Defence for some UKP600m net.
