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Viglen to float after Amstrad break up

Martin Veitch ZDNet.co.uk

Published: 04 Jun 1997 15:49 BST

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Sugar said yesterday he plans to break up the Amstrad group and remove it from the London Stock Exchange. A new holding company will be named Viglen Technology and will seek to float in London from early in August.

Sugar will be a non-executive member of the Viglen board but his main role will be as chairman of the Betacom consumer electronics wing.

Amstrad shares rose five per cent on the news.

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