HC Deb 14 February 1924 vol 169 cc1038-9W

asked the Chancellor of the Exchequer (1) the grounds for the Government's refusal to consider the sale of the Anglo-Persian shares;

(2) what price per share the Burma Oil Company was prepared to pay for the Government's holding in Anglo-Persian shares; and what profit would accrue to the nation had the offer been accepted?


asked the Chancellor of the Exchequer whether, in view of the representations of the Burma Oil Company, in connection with the recent negotiations for the purchase of the Government shares in the Anglo-Persian Oil Company, the Government will reconsider their decision not to sell?


The price offered appears to have been between£3 15s. and £4. This would have represented a profit of nearly £3 a share on the original price, and of about £1 a share on the current market price, on 5,000,000 shares. His Majesty's Government were satisfied on a full examination by the Departments concerned of the proposal that it would not have been in the national interest to part with the shares to a combine and in particular that Naval interests, for which the original investment in an independent ail company was made, would have been seriously prejudiced. I would add, as the existence of any doubt in the matter is unfair to the Anglo-Persian Oil Company, that His Majesty's Government have no intention whatever of reconsidering their decision.