§ Mr. Alfred MorrisTo ask the President of the Board of Trade what progress has been made by the administrative receivers to Ferranti International toward the choice of a preferred bidder; when he expects the choice to be announced; and if he will make a statement.
§ Mr. Sainsbury[holding answer 28 March 1994]: The administrative receivers to Ferranti International announced yesterday that they had reached an agreement in principle with the General Electric Company plc for the acquisition of Ferranti's defence, simulation and training businesses. Separate negotiations covering the remaining businesses are continuing with other interested parties.