§ Mr. Robert Taylor
asked the Chancellor of the Exchequer what is the exact nature of the Government's current shareholding in the former Suez Canal Company; and what is its present market value.
§ Mr. Lawson
The Government's holding of 710,150 French franc 100 capital shares in the Suez Finance Company represented 7.66 per cent. of the company's total equity. As I announced in a written reply to my right hon. Friend the Member for Norfolk, North (Mr. Howell) on 7 November—[Vol. 973, c. 179–80]—the shares have been sold to the Banque de l'Indochine et de Suez. Settlement will be on 30 November. Net proceeds of the sale amounted to approximately £22 million.