§ Mr. Callaghanasked the Chancellor of the Exchequer whether he will refuse permission to the Technicolor Corporation of America to acquire 1,540,304 stock units in Technicolor Limited, held by British shareholders, in view of the undesirability of total control of this process passing into foreign hands.
§ Mr. Boyd-CarpenterNo. Exchange control permission has in fact been given. This company has been United States controlled since 1938.
§ Mr. Callaghanasked the Chancellor of the Exchequer if he will seek an assurance from the Technicolor Corporation of America that, in the event of their becoming sole owners of Technicolor Limited, this profitable undertaking, which employs over 1,000 workers, will continue to operate in this country.
§ Mr. Boyd-CarpenterNo. Such an undertaking is not necessary in a case such as this where the United States interests propose to invest some £l.million in a company which they already control.