HC Deb 29 November 1996 vol 286 c423W
Mr. Tony Banks

To ask the President of the Board of Trade if he will refer the bids from United States companies for East Midlands Electricity and Northern Electric to the Monopolies and Mergers Commission; and if he will make a statement. [5702]

Mr. John M. Taylor

[holding answer 25 November 1996]The Director General of the Fair Trading is currently considering the bids by CE Electric and Dominion Resources for Northern Electric and East Midlands Electricity respectively and will advise my right hon. Friend the President of the Board of Trade in due course. All representations on this matter should therefore be submitted directly to the DGFT. The President will make his decision on whether or not to refer the bids to the Monopolies and Mergers Commission, in the light of the DGFT's advice.

Mr. Banks

To ask the President of the Board of Trade what representations he has made to the United States Administration about protection of United States power companies from foreign takeovers; and if he will make a statement. [5701]

Mr. Page

[holding answer 25 November 1996]In a letter of 28 June 1996 to the Secretary of Commerce, my right hon. Friend the President of the Board of Trade raised the subject of US regulation of foreign ownership of US energy utility companies. In his response, Mr. Kantor confirmed that US law does not preclude foreign firms from owning US gas or electricity utilities. We are, however, continuing to study in such cases the detailed regulations to which both US and foreign companies are subject.