asked the Secretary of State for Trade and Industry if he will institute a departmental inquiry into all the aspects of the circumstances of the British Telecom share flotation, with particular reference to the extent to which members of underwriting firms were able to avoid the rules limiting the number of shares available to any individual by dealing in the shares in their own names once the shares had been issued to their firms.

No.

asked the Secretary of State for Trade and Industry on what basis members of Kleinwort Benson dealt in British Telecommunication shares on their own account at the time of the flotation; and to what limit of total shareholding they were each restricted.

I refer to the answer my hon. Friend gave on 22 March at column 641. Kleinwort Benson employees participated through the public application and allocation arrangements.

asked the Secretary of State for Trade and Industry if he will publish a list of the firms with which British Telecom shares were placed at the beginning of the offer period; and if he will specify how many shares each firm underwrote.

I shall reply to the hon. Member as soon as possible.