HL Deb 31 January 2000 vol 609 cc9-10WA
Lord Cuckney

asked Her Majesty's Government:

When the Department of Trade and Industry report into the flotation of the Mirror Group Newspaper plc will be published. [HL611]

Lord Sainbury of Turville

The independent inspectors appointed to investigate the flotation of Mirror Group Newspapers are still carrying out their work. Consequently they have yet to report to my right honourable friend the Secretary of State for Trade and Industry.

Lord Cuckney

asked Her Majesty's Government:

How many witnesses have so far been called by the inspectors conducting the investigation into the flotation of Mirror Group Newspapers plc. [HL612]

Lord Sainsbury of Turville

The inspectors appointed under Companies Act powers to investigate and report on the flotation of Mirror Group Newspapers are independent of DTI.

Lord Cuckney

asked Her Majesty's Government:

What costs the inspectors have so far incurred since they were appointed on 6 June 1992 to investigate and report on the flotation of Mirror Group Newspapers plc. [HL626]

Lord Sainsbury of Turville

The cost of the inspection to date (excluding Value Added Tax) is £7,639,765.

Lord Cuckney

asked Her Majesty's Government:

Whether, in view of the time the preparation of the report is taking and the costs incurred by all parties, they will publish an interim report on the investigation into the affairs and membership of the Mirror Group Newspapers plc, with particular reference to the offers for sale of the company's shares in early 1991. [HL627]

Lord Sainsbury of Turville

The inspectors have not completed their enquiries. No interim report has been prepared by them. It is important for the inspection to be completed as quickly as is possible and for a final report to be submitted. The preparation of an interim report could delay the preparation of a final report.