§ 29. Mr. Simon Coombs
To ask the Secretary of State for Trade and Industry if he will make a statement on the Government's policy towards the takeover of Square D by the French firm Schneider.
§ Mr. Redwood
My right hon. Friend the Secretary of State's main consideration in deciding whether or not to refer a merger to the Monopolies and Mergers Commission for investigation remains its effect on competition as it affects the United Kingdom consumer. In addition, as my right hon. Friend announced on 26 July 1990, in deciding whether to make such a reference he will in future pay particularly close attention to the degree of state control, if any, of the acquiring company. It would not be appropriate to comment further on the acquisition by Schneider SA of the Square D company in advance of my right hon. Friend's announcement of his decision on whether to refer this merger to the Commission or not. My right hon. Friend will take all relevant considerations into account when reaching his decision.