UK cos seek higher stakes in security solutions firms

PUNE: British companies are eyeing the opportunity for high technology security products thrown up after the terrorist attack in Mumbai last November.

However, the 26% maximum stake they can hold in such a JV is a stumbling block. They would like this to be hiked to 49%, said the British High Commissioner, Sir Richard Stagg.

He said: ���The Indian government is reflecting on what it needs to do following the terrorist attacks in Mumbai last year. We believe there is a substantial opportunity for British companies to offer technologically-advanced systems for surveillance... But they should be able to hold a 49% stake because there is a real opportunity here.���