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Mr. Fry
asked the Secretary of State for Trade and Industry if he will refer the takeover bid by Thomas Cook Ltd. for the Frames Travel Agent chain of shops to the Monopolies and Mergers Commission; and if he will make a statement.
Mr. Fletcher
The question of a reference arises only if any such bid involves the acquisition of assets in excess of £30 million or the creation or enhancement of a market share of 25 per cent. or more. If it does, my right hon. Friend will decide whether to make a reference in the light of the advice of the Director General of Fair Trading.