HC Deb 26 February 2004 vol 418 cc409-10
10. Tony Lloyd (Manchester Central) (Lab)

What representations she has received on the laws governing company takeovers. [156262]

The Minister for Industry and the Regions (Jacqui Smith)

We have held widespread discussions and received representations—in particular, during negotiations on the takeovers directive. We will be consulting further on the detail of its implementation.

Tony Lloyd

Professional football is enormously important in the life of the nation and to many of our fellow countrymen and women. Many football supporters are extremely agitated by the acquisition of Chelsea and there is constant speculation about a takeover of Manchester United, which is destabilising. The ordinary supporter would like it clearly recognised by the Government that the public interest should not be not confined to the interests of shareholders and that football fans ought to have their views considered and taken on board. Will my right hon. Friend make it clear that any proposed acquisition of a Premiership club or even of a smaller club in the Football League will be considered in terms of the public interest, and that the Government will take powers to ensure that the rights of football supporters are recognised?

Jacqui Smith

Football clearly embraces and promotes great passion and emotion—though perhaps not quite as great as that shown by Manchester United's captain last night. Any business must pay attention to the needs of its customers, even when they are Manchester United fans. However, we must not lose site of the fact that football clubs are businesses. Manchester United, as a company, has chosen to raise money from investors by having its shares listed on the stock exchange.

It would not be appropriate for me to comment on specific takeover speculation, but I assure my hon. Friend that robust safeguards are in place, under the City takeover code overseen by the takeover panel, to ensure that all shareholders— including those who support football clubs as fans—are properly protected. Concerns about competition are met by competition legislation, which safeguards against any company assuming a dominant position in a market.

Mr. Nick Gibb (Bognor Regis and Littlehampton) (Con)

The Minister will know that the takeover of the one-stop shops by Tesco means that the one in Nyetimber in my constituency is to close its post office counter, even though the existence of that facility was used to justify the closure of the post office in Pagham. As a result, there is no now post office for the people of Pagham. Will the Minister or one of her colleagues meet a delegation from Pagham to discuss how we can restore postal services to the people there?

Jacqui Smith

My hon. Friend the Minister for Energy, E-Commerce and Postal Services has already spelled out the action that we are taking to ensure that we maintain the post office network necessary to serve people's needs. However, I am sure that the Post Office will look carefully at how it can maintain the service that the hon. Gentleman has referred to, for the good of his constituents.