Morgan Stanley and 11 other banks thought to include BNP Paribas, Credit Suisse First Boston Deutsche Bank, Goldman Sachs, Merrill Lynch and UBS have received an invitation to tender for the £1.1bn (€1.6bn) flotation of QinetiQ, the UK Ministry of Defence's research laboratory.

A source close to Morgan Stanley confirmed it was pitching for the mandate.

Nicholas Lockley

Morgan Stanley

The Carlyle Group

Deutsche Bank

BNP Paribas

Goldman Sachs

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Twelve banks fight for QinetiQ float

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