HC Deb 26 January 1972 vol 829 cc1386-7
32. Mr. Fox

asked the Secretary of State for the Environment what progress has been made regarding the sale of Thomas Cook and Son, Limited; and if he will make a statement.

Mr. Peyton

A prospectus was published on 16th December.

Mr. Fox

I thank my right hon. Friend for that reply. Bearing in mind the intense interest in the matter on this side of the House, will he give an assurance that he will keep the House fully informed at all stages?

Mr. Peyton

Yes, Sir, of course.

Mr. Carter

Will B.O.A.C. or B.E.A. be permitted to make a bid for Thomas Cook?

Mr. Peyton

I am not responsible for the actions of either of the nationalised air corporations, but no one has been inhibited from putting in a bid.

Mr. Rost

Does not my right hon. Friend think that the general public, particularly the small investor, should also be allowed the opportunity to buy a stake in Thomas Cook? Would not a public offer for sale by subscription be a method to be considered?

Mr. Peyton

My hon. Friend has raised that point on a number of occasions, including last night. The advice given to me was that the best way of securing the best price for the public interest was to proceed along the path we have taken.