HC Deb 06 February 1989 vol 146 cc516-7W
Mr. Beith

To ask the Secretary of State for the Environment whether he will list(a) the bids for control of statutory water companies which will not be affected by his proposals for automatic referral of such bids to the Monopolies and Mergers Commission, and (b) the announced bids which are likely to be covered by the proposals, indicating in each case the shareholding known to have been acquired by the bidder, and the identity of the bidder.

Mr. Moynihan

The proposals announced by my right hon. Friend the Secretary of State on 11 January will not affect a bid for control of a statutory water company which does not satisfy the £30 million size of assets test in current merger legislation. A bid for a company with assets exceeding £30 million will be subject to automatic referral if the bidder is another statutory water company with assets exceeding £30 million or a person who already controls another statutory water company with assets exceeding £30 million or a water authority.

The proposals will apply only to mergers initiated after 9 am on 11 January 1989. I am not at present aware of any bids announced since that time which fall within the scope of my right hon. Friend's proposals.