§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what consultations were held with BP over the decision to establish a floor price for its rights issue shares sold to the public ; and whether BP is to be asked to make any contribution to the cost of repurchase of those shares.
§ Mr. Norman LamontBP was consulted on what action should be taken in relation to the offers, in accordance with clause 8.01 of the underwriting agreement. The arrangements for financing the repurchase of any partly paid BP shares were set out in my answer to the hon. Member for Islington, South and Finsbury (Mr. Smith) on 5 November at column851.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what consultations he held with the Bank of England about the floor price proposal for BP shares.
§ Mr. Norman LamontI refer the hon. Gentleman to my right hon. Friend's statement of 29 October.
§ Mr. WilsonTo ask the Chancellor of the Exchequer, pursuant to his reply of 9 November, if he will break down the figure of £5.9 million spent on newspaper advertising in relation to the British Petroleum share issue by individual newspaper.
§ Mr. Norman LamontNo. The information requested is commercially confidential.