Re: The new passports (Post-Brexit)
Ok this is a red topRe: The new passports (Post-Brexit)
That's perhaps one of the most misleading articles the Mirror has produced for some time and show a complete inability to understand the investment business. They are very careful to point out that Osborne may not have profited from the investment to keep themselves in the clear.Re: The new passports (Post-Brexit)
I know that George Osbourne is nothing to do with Gemalto Blackrock like all major investments managers invests in practically everything , what gets me is that G.O. gets paid a big retainer for doing what precisely. He was a terrible chancellor what does he know about investment that is worth £650k pa ?Re: The new passports (Post-Brexit)
It is indeed a nonsense. Schroders own over 5% of de la rue. According to this article Bruno Schroder (a non exec director) donated £50k to the remain campaign. So that doesn't make the headlines because it doesn't quite fit with the story. All these multinationals will have different investors with their own interests. it's of more significance that Gemalto's biggest shareholder is an investment company linked to the French Government. But none of this is relevant to why they would be the favoured bidder. It's clear they have the expertise and are trusted by many countries worldwide to produce e-passports. It's such a silly commotion when both companies are owned by shareholders worldwide.Re: The new passports (Post-Brexit)
Re: The new passports (Post-Brexit)
Re: The new passports (Post-Brexit)
Also looking at their annual report and comparing it to Gemalto, de la rue have some strategic direction issues. I didn't look into their accounts in any depth but they have a habit of releasing profit warnings. When you assess a tender many factors are taken into account. Backhanders are not part of that process. It's a big hit for them to lose this contract, but they don't employ that many staff.
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