Rolls-Royce shares tumble as it considers a rights issue of up to $3.23 billion
Britain’s best known engineering company, which makes engines for airliners, military jets and ships, put out a statement on Saturday in response to media reports.
The COVID-19 pandemic has hit Rolls hard as airlines pay the company according to how many hours its engines fly. Rolls in August said it wanted to sell turbine blade maker ITP Aero and other assets to raise at least 2 billion pounds.Two senior industry executives who deal with Rolls said they believed a re-nationalisation or injection of state capital was possible, but that it was unclear whether the UK had an appetite for such a move.
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