HC Deb 27 November 1989 vol 162 c92W
Mr. Parry

To ask the Secretary of State for Trade and Industry if he will make a statement on the future of Girobank.

Mr. Forth

The then Chancellor of the Duchy of Lancaster announced on 20 April that the Post Office Board had accepted a conditional offer from the Alliance and Leicester Building Society for Girobank. The Post Office and the Alliance and Leicester are engaged in detailed negotiations with a view to completing the sale as soon as practicable.

The regulatory authorities will need to be satisfied and my consent will be required before the sale can take place.

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