Sunday, 26 April 2009

UAE group ends bid to buy share in US Textron

Talks between a group of UAE businesses, plus a Kuwaiti company, to buy US aircraft manufacturer Textron Inc have called to a halt, according to Kuwait newspaper.

A report in the national daily Al Watan, citing anonymous people, said the deal had been called off on the back of concerns of a political outcry about a non-US group owning a large share of the firm.

Other issues such as more undeclared losses at Textron and the group's lack of technical know-how to separate Textron’s civilian and military operations within three years as had been planned, were also cited as reasons for the deal collapse the Kuwait newspaper said.

No comments:

Post a Comment