§ Mr. Gouldasked the Secretary of State for Trade and Industry what proportion of the British Telecom shares reserved for British Telecom employees and pensioners was subscribed for; what proportion was allocated; and what happened to any balance.
§ Mr. ButcherUp to 10 per cent. of the shares being offered in the British Telecom flotation were available for BT employees and pensioners. Applications were received from employees and pensioners for 5.1 per cent. of the offered shares and 4.5 per cent. of the offered shares were allotted. Shares not allotted under these arrangements became available to meet applications from members of the public.