bg takeover gaining momentum, page-12

Meanwhile, QGC said the sale of 1.2 million shares by Mr Cottee last week was the result of a "significant" tax bill received by the company's managing director and not a margin call.

QGC said the "tax liability, due in late September, arose from an assessment of the tax payable on QGC shares held by Mr Cottee", who has retained a direct interest in about 4.9 million shares.

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