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 by AFP Staff Writers London (AFP) Aug 19, 2021
Britain has ordered a probe into the takeover of UK defence technology firm Ultra Electronics by US-owned Cobham in order to assess risks to national security. Business Secretary Kwasi Kwarteng revealed late Wednesday that he has referred the deal to the Competition and Markets Authority (CMA) regulator, which will report back in January next year. "I instructed the CMA to investigate the proposed acquisition of Ultra Electronics by Cobham to assess any national security concerns," Kwarteng tweeted. "The UK is open for business, however foreign investment must not threaten our national security." Ultra Electronics this week accepted a �2.6-billion ($3.6-billion, 3.0-billion-euro) takeover from Cobham, the former London-listed defence giant now owned by Advent. Cobham launched the Ultra bid late last month, but the transaction is sensitive because the group has lucrative UK military contracts, including with the Royal Navy for sonar systems. Kwarteng has also tabled an order in parliament to stop Ultra Electronics from disclosing sensitive information to Cobham about the goods or services it provides to the UK government or its armed forces. US private equity group Advent bought Cobham in a �4.0-billion deal approved by the UK government after a national security probe. Advent has pledged to protect sensitive government information and keep Cobham's headquarters in Britain. Cobham is known for pioneering technology enabling the mid-air refuelling of planes, while it also makes electronic warfare systems and communications for military vehicles. jbo-rfj/wdb
Taliban gained 'fair amount' of US defense equipment: White House Washington (AFP) Aug 17, 2021 The White House acknowledged Tuesday that the Taliban had amassed a significant amount of US military equipment after seizing control of Afghanistan following two decades of war with American forces. Pictures and videos have shown the Taliban with firearms and vehicles that Pentagon troops used or provided to the Afghan national security forces, as well as advanced UH-60 Black Hawk attack helicopters and other equipment at the Kandahar airport. "We don't have a complete picture, obviously, of wh ... read more
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