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10Sep92 UK: MOWLEM SETS THE CITY TWITCHING WITH ANNOUNCEMENT THAT IT IS LISTENING TO OFFERS FOR STAKE IN AIRPORT.

The twitchiness in the City about construction firms was well-illustrated by early reaction to Mowlem's announcement that it was listening to offers for part of its stake in the London City Airport.The announcement, coupled with the pending sale of part of the SGB scaffolding business in the US, sent the rumour machinery into overdrive. Why did Mowlem need the money? Was this another fire sale?The reality is probably more prosaic. Mowlem had undoubtedly suffered along with the rest ...

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