Written question asked by Brian White (Labour) on Thursday, 7 February 2002, in the House of Commons. It was due for an answer on Monday, 11 February 2002. It was answered by Patricia Hewitt (Labour) on Monday, 11 February 2002 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for Trade and Industry, if she has agreed to allow Cable and Wireless to redeem the special share that the Government holds with the company. - Includes figures.

Answer: Brian White: To ask the Secretary of State for Trade and Industry if she has agreed to allow Cable and Wireless to redeem the special share that the Government holds with the company. [35551] Ms Hewitt: The Government's special share in Cable and Wireless was redeemed today for its nominal value of £1. This means that the Government no longer hold any shares in Cable and Wireless. The Government have made this decision to remove the requirement on Cable and Wireless to obtain the Government's written consent before making certain acquisitions or disposals. This should enable Cable and Wireless to make decisions that are in its own interests and consequently to compete more effectively in the telecommunications sector.

Secondary information