The Wellcome Trust has received the sanction of the UK High Court to reduce its stake in the UK-based pharmaceutical concern, Wellcome, from 73.6% to 25%. The court said the Trust could sell up to 417 million shares.
The Trust is a medical charity and is planning to sell a large share of its holding in Wellcome in a sale expected to take place this summer. The sales should attract interest from overseas (Marketletter March 9). The Trust was first established by Sir Henry Wellcome.
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