Stagecoach

HC Deb 30 July 1998 vol 317 cc556-7W

Mr. Hoyle

To ask the President of the Board of Trade, pursuant to the answer of 25 June 1998,Official Report, column 563, from the Under-Secretary of State for the Environment, Transport and the Regions, the hon. Member for Hampstead and Highgate (Ms Jackson), if she will make a statement on the acquisition by Stagecoach of a shareholding in Virgin Rail. [52874]

Dr. Howells

The proposed acquisition by Stagecoach of 49 per cent. of Virgin Rail Group qualifies for consideration under the Fair Trading Act 1973. In the first instance, therefore, it is for the Director General of Fair Trading (DGFT) to consider the proposed acquisition.

My right hon. Friend,the Secretary of State for Trade and Industry will decide in the light of the DGFT' s advice whether or not to refer the proposed acquisition to the Monopolies and Mergers Commission for investigation and report.