HC Deb 21 March 1994 vol 240 c104W
Mr. Khabra

To ask the Secretary of State for Transport if he will make a statement on the application of the expected receipts from the privatisation of London Buses' subsidiary companies.

Mr. Norris

London Transport will retain the full amount of any proceeds from the sale of the companies up to a specified amount and 25 per cent. of any proceeds above that sum. The amount involved is commercially confidential at this stage in the sale process.