§ Mr. FallonTo ask the Secretary of State for Trade and Industry if he will list the commercial acquisitions made by the Post Office since 1 November 1998, giving the approximate value of each acquisition and the date in which approval was given. [85345]
§ Mr. Ian McCartneyThe commercial acquisitions made by the Post Office since 1 November 1998 are as follows:
Germany:
German Parcel—acquisition cost around £300 millionDer Kurier—acquisition cost less than £10 millionAustria:
Delacher—acquisition cost less than £3 million.Government approval for the German Parcel acquisition was given to the Post Office on 19 December 1998. The other deals fell within permitted borrowing limits for smaller development investments which are notified to Government but do not require specific approval. Fuller details of the arrangements will be set out in the forthcoming White Paper.