§ Mr. Cousins
To ask the Chancellor of the Exchequer, pursuant to the reply given to the hon. Member for Carshalton and Wallington (Mr. Forman) on 18 July,Official Report, column 590, how many market makers were selected to tender for the 54,000,000 British Gas shares sold to S. G. Warburg and Co.; and whether any higher, if conditional, tender was received.
§ Mr. Norman Lamont
Four market makers, including S. G. Warburg and Co. Ltd., were invited to bid for the shares. No higher tender was received than from Warburgs although an equal, but conditional, bid was received from one other bidder. In those circumstances, the Government accepted the unconditional bid.