HC Deb 15 February 1994 vol 237 cc739-40W
Mr. Austin Mitchell

To ask the President of the Board of Trade whether the Government welcome the takeover of British industry by foreign firms.

Mr. Sainsbury

The Government welcome foreign investment in United Kingdom industry. Mergers between United Kingdom and overseas companies can be expected to increase as markets become increasingly international. Historically the number and value of United Kingdom acquisitions abroad has exceeded that of foreign takeovers of United Kingdom companies.