HC Deb 26 July 1990 vol 177 cc409-10W
Mr. Allen

To ask the Secretary of State for Trade and Industry how many shares Her Majesty's Government hold in British Telecom; what was the last departmental valuation of that holding; and what plans he has to sell all or part of the holding.

Mr. Douglas Hogg

[holding answer 25 July 1990]: Her Majesty's Government currently hold one special rights redeemable preference share and 2,941 million ordinary shares in British Telecommunications plc. The ordinary shareholding has a value of some £8,600 million at current market prices.

It is Her Majesty's Government's policy to sell residual shareholdings in privatised companies as the circumstances of the companies and market conditions permit.