Sunaks wife - Infosys Alarm

I've been reading rumours about this all over Twitter. My first reaction was that, if true, it's truly shocking. But is it true? I spent some time yesterday looking for some proof and I couldn't find anything definitive. As far as I can tell, the contract was outsourced to Fujitsu. The allegation is that it was sub-contracted to Infosys, in which Sunak's wife has shares (her father founded the company), but I'm not sure that's true. Certainly, Infosys has done this kind of work in the past, but I don't know if there's any proof it was involved in the UK alarm. I stand to be corrected, if there's any proof, but until then, it's just a rumour as far as I can tell.

twitter.com/search?q=infosys%20emergency%20alert&src=typeahead_click&f=top

Ashcombe I read loads of posts on Twitter claiming the same thing, but I was unable to find any reliable source of information.

Inunderstand from twitter that Sunak's wife has a 0.9% share in Infosys. That her family are no longer major shareholders and that her father doesn't run it. Also that she isn't going to make a killing from the profits from the small contract

GagaJo

So... Sunday's emergency alarm test. Supplied by Infosys at a cost of millions to the British tax payer. Major shareholder Rishi Sunaks wife.

NOTHING this government ever does is for the good of the populace. It's only ever about lining their own pockets.

Really?
A major shareholder is someone who owns and controls more than 50% of a company's shares, not 0.9%.

Blimey, 0.9% is not indicative of a major shareholder

Gagajo I think your OP is misleading.

I don't care for Akshata Murty, but she is an extremely wealthy woman, mostly inherited, and it would be difficult to find businesses in which some of the family wealth is not invested.
A very tenuous link at best.

MaizieD

Inunderstand from twitter that Sunak's wife has a 0.9% share in Infosys. That her family are no longer major shareholders and that her father doesn't run it. Also that she isn't going to make a killing from the profits from the small contract

I don't think that there's any doubt that Sunak's wife has shares in Infosys and the dividends give her a substantial income.

What I'm disputing is that Infosys had anything to do with the contract for the alarm. I've read the posts on Twitter, but I'm still unable to find an reliable source.

A bit thin in my opinion.

growstuff

MaizieD

Inunderstand from twitter that Sunak's wife has a 0.9% share in Infosys. That her family are no longer major shareholders and that her father doesn't run it. Also that she isn't going to make a killing from the profits from the small contract

I don't think that there's any doubt that Sunak's wife has shares in Infosys and the dividends give her a substantial income.

What I'm disputing is that Infosys had anything to do with the contract for the alarm. I've read the posts on Twitter, but I'm still unable to find an reliable source.

I have been having a quick look (waiting for washing machine to finish) and cannot find anything substantial, like you have posted just Twitter rumours.

Hasn't she also got shares in a childcare company that is going to benefit from the increase in nursery provision.

There are major issues that we have to deal with right now. I don't have to list them everybody knows what they are.

But worrying because a company that the PM's wife might have an as-yet undefined amount of shares in a company that partnered with Fujitsu 20 years ago, is pretty low on my list of priorities.

volver3

There are major issues that we have to deal with right now. I don't have to list them everybody knows what they are.

But worrying because a company that the PM's wife might have an as-yet undefined amount of shares in a company that partnered with Fujitsu 20 years ago, is pretty low on my list of priorities.

I agree 👍

One of my priorities should be improving my grammar...

So what would you like her to do? Give her inherited wealth away?
What would you do in her position?

volver3

One of my priorities should be improving my grammar...

One of mine is spending less time on GN whilst I am waiting for various appliances to finish…

ExDancer

So what would you like her to do? Give her inherited wealth away?
What would you do in her position?

Enjoy every last penny, whilst making charitable work and donations anonymously.

I just had a thought...

I have shares in a couple of companies. I don't make money when they take part in tests, in fact their value has plummeted recently although they are busy as ever.

Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?

(Incidentally I don't have untold wealth as a result of those shares. If I traded them in just now, I might manage to buy a new winter coat.)

Blimey once again I find myself agreeing with you volver3

There is absolutely no guarantee that you will make money on shares, it’s basically gambling by another name.

This can't go on GG13

She no doubt has a broker who sorts this for her, can't really see her pondering over the FT what to buy or sell.
Not an issue.

Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?

You should know the answer to that, volver, being a shareholder yourself.

The answer is 'dividend'. Profits distributed to shareholders after taxation.
Maybe the companies you have shares in don't make much profit, but that cannot be said of infosys. According to this website, Sunak's wife stands to earn a considerable sum on her shareholding (a 'crore' = 10million if people want to do the sums). It also says that she holds 1.07% of infosys shares.

GrannyGravy13

Blimey once again I find myself agreeing with you volver3

There is absolutely no guarantee that you will make money on shares, it’s basically gambling by another name.

I don't think you can go wrong with infosys, GG13. See my previous post...

What is intriguing me is, are large company's eyewatering profits caused by the cumulative effect of low profit margins on millions/billions of transactions, or are they just caused by profiteering?

It is a problem that the PM's wife (and probably the PM himself) has interests in such a broad range of sectors and companies.

I'm not sure what the answer is, as of course someone with her level of wealth will spread their portfolio, and if one of her investments is in the best company to do a job, then it would be madness to insist that the business went elsewhere. OTOH, there will always be a suspicion that potential profits for her have influenced high level decisions, and that is a problem, both for the Sunaks themselves and for the rest of us, as we should be confident that public money is spent with the best motives in mind.

A much more open and transparent system of accountability would go some way to solving those problems, I think.