HC Deb 09 February 1988 vol 127 cc147-8W
Mr. Austin Mitchell

To ask the Chancellor of the Duchy of Lancaster what preparations he has made for the appointment of underwriters for the flotation of British Steel; when he hopes to make an appointment; and on what basis and when the advertising budget will be decided.

Mr. Atkins

[holding answer 8 February 1988]: Preparations for the flotation of the British Steel Corporation are at an early stage. No decisions have yet been taken therefore on the matters raised.

Mr. Mitchell

To ask the Chancellor of the Duchy of Lancaster what discussions he has had with stockbroking firms about the tendering for the British Steel flotation; when he expects to make the choice; and what prospectus has been issued to applicants for the flotation contract.

Mr. Atkins

[holding answer 8 February 1988]: My Department announced on 2 February the appointment of Rowe and Pitman Ltd. as stockbroking advisers for the flotation of the British Steel Corporation. This appointment followed an open competition, during which selected applicants were sent a brief description of the work involved.

Mr. Austin Mitchell

To ask the Chancellor of the Duchy of Lancaster what discussions he has had with advertising agencies about the flotation of the British Steel Corporation.

Mr. Atkins

[holding answer 8 February 1988]: Two advertising agencies have approached the Department to express an interest in appointment for the British Steel Corporation flotation. The nature of the marketing campaign has not yet been decided, however, and no substantive discussions have been held.