§ Mr. Prescottasked the Secretary of State for Transport what is the maximum percentage of shares he intends to allow British Railways Investment Ltd. to retain in the sale of the Gleneagles group of hotels belonging to British Transport Hotels.
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§ Mr. Fowler[pursuant to his reply, 11 May 1981]: It is for the Railways Board to propose what proportion of the shares it should retain when disposing of part of its interest in a subsidiary. As the chairman said in his commentary on the board's 1980 report and accounts—page 11—the board recognises that it cannot continue to control its subsidiaries and also attract private capital to them.
§ Mr. Prescottasked the Secretary of State for Transport whether he has yet received proposals from British 268W Railways Investment Ltd. for the sale of the Gleneagles group of hotels; if not, when he expects to receive such proposals; how many hotels are involved; which they are; and what is their estimated value.
§ Mr. Fowler[pursuant to his reply, 11 May 1981]: I understand that the Railways Board is considering the disposal by British Transport Hotels Ltd. of part of its interest in some of its Scottish hotels, but as yet I have received no proposals from the board.