HC Deb 11 February 2002 vol 380 cc73-4W
Brian White

To ask the Secretary of State for Trade and Industry if she has agreed to allow Cable and Wireless to redeem the special share that the Government holds with the company. [35551]

Ms Hewitt

The Government's special share in Cable and Wireless was redeemed today for its nominal value of £1. This means that the Government no longer hold any shares in Cable and Wireless.

The Government have made this decision to remove the requirement on Cable and Wireless to obtain the Government's written consent before making certain acquisitions or disposals. This should enable Cable and Wireless to make decisions that are in its own interests and consequently to compete more effectively in the telecommunications sector.