§ Ms. MowlamTo ask the President of the Board of Trade when he expects to be informed by the Office of Fair Trading of its views on the possible takeover of Midland bank plc by Lloyds bank plc; and whether he will make a statement.
§ Mr. Neil HamiltonThe Director General of Fair Trading provides his advice to the President of the Board of Trade on all mergers qualifying for investigation under the Fair Trading Act 1973 as quickly as possible. It would not be appropriate to comment on when the director general's advice on the possible takeover of Midland Bank plc by Lloyds bank plc is likely to be received or when a decision on that advice can be expected in view of the market sensitive nature of that information.
§ Ms. MowlamTo ask the President of the Board of Trade when he expects to be informed by the European Commission of the Competition Directorate's views on the proposed takeover of Midland bank plc by the Hongkong and Shanghai Banking Corporation.
§ Mr. Neil HamiltonThe proposed takeover of Midland bank plc by the Hong Kong and Shanghai bank was notified to the EC Commission under the European Community merger regulation on 23 April. The EC Commission has to announce its decision on whether to clear the merger or open a full-scale investigation into it by 26 May.
§ Mr. WhittingdaleTo ask the President of the Board of Trade what assessment he has made of the implications for consumer choice and competition within the banking system of a takeover of Midland bank by Lloyds bank; and if he will make a statement.
§ Mr. Neil HamiltonThe President of the Board of Trade will receive comprehensive advice from the Director90W General of Fair Trading on all aspects of the possible offer by Lloyds bank for Midland bank which may affect the public interest. It would not be appropriate for the President to reach a view on the implications for consumer choice and competition within the banking system of a merger of the two banks in advance of receiving the director general's advice.