HC Deb 02 February 1981 vol 998 cc2-3W
Mr. Canavan

asked the Secretary of State for Trade whether he will refer to the Monopolies and Mergers Commission the growing influence of Lonrho in the House of Fraser.

Mrs. Sally Oppenheim

The commission has already investigated the merger situation between Lonrho and House of Fraser which arose when Lonrho increased its shareholding in House of Fraser to 29 per cent. through its acquisition of Scottish and Universal Investments, which was itself a shareholder in House of Fraser. There is no power to make a further reference of that merger situation, given the commission's conclusion that it might be expected not to operate against the public interest.

My right hon. Friend will announce as soon as practicable his decision on whether any new merger situation between these companies should be referred to the commission.