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Public Holdings (Sale)

Volume 976: debated on Tuesday 20 November 1979

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asked the Secretary of State for Industry if he will list in the Official Report what contacts his Department has had with merchant banks and other City institutions regarding the Government's proposals to sell off public holdings.

My right hon. Friend has appointed the following institutions to work on the proposed sale of shares in the company in which the present undertaking of British Aerospace will vest under the British Aerospace Bill: the Bank of England will manage the issue in conjunction with Kleinwort, Benson Limited, which has been engaged to act as merchant bank advisers to the Department.The Department has also had advice from many sources including merchant banks and institutions on a confidential basis in connection with the Government's proposals to reduce the extent of State ownership.