§ Dr. CableTo ask the Secretary of State for Trade and Industry what action he proposes to take to protect the interests of consumers in respect of the hostile takeover of Abbey National by Lloyds TSB. [144971]
§ Dr. Howells[holding answer 15 January 2001]: In the first instance, it is the responsibility of the Director of Fair Trading to assess the likely impact of a proposed merger. He is currently investigating the possible take-over of Abbey National by Lloyds TSB and will advise me in due course on whether or not he believes the proposed merger may be expected to operate against the public interest. When I have received the DGFT's advice, I will consider all issues that I believe to be relevant before deciding whether or not to refer the proposed merger to the Competition Commission for a detailed inquiry.