Coal sale puts heat on Hanson adviser
Sunday 06 June 1993
Hanson is one of the most likely bidders for the mines, and Martin O'Neill, the Labour Party's energy spokesman, is concerned about the potential conflict of interest.
Kevin Palmer, Rothschild's director specialising in the coal industry, said that if Hanson were to bid for the mines, the bank would 'not work both sides of the deal'. It would not continue to advise Hanson.
It has emerged that Hanson may already have put pressure on the Government to allow piecemeal privatisation of the pits so the company might bid for the best mines.
In 1990, Rothschild was an adviser to some of the privatised electricity companies, whose switch to gas-burning power hit the coal industry. But the company said it stopped working for the electricity industry when it became the Government's main adviser on coal.
Martin Taylor, Hanson's vice-chairman, said he would not comment on rumours. 'We have said that if the Government chooses to privatise British Coal, no doubt our mining interests in the United States will look at it.'
If the rumoured Hanson plan for sell-offs is taken up, it might speed up privatisation. But it would meet opposition from coal managers and some unions, which believe British Coal should be sold intact.
Oscar Pistorius trial: Paralympian sick again after photographs of Reeva Steenkamp's body are shown in court
Tony Benn dead: Veteran Labour politician passes away at 88
Arrest made after man is found by the side of the road with his penis cut off
Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
Missing Malaysia Airlines Flight MH370: Focus shifts west as Indian Ocean becomes latest search area for the aircraft and its passengers
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Europeans have ‘got whiter’ due to natural selection in past 5,000 years, scientists say
Fracking is turning the US into a bigger oil producer than Saudi Arabia
How climate change helped Genghis Khan: Scientists believe a sudden period of warmer weather allowed the Mongols to invade with such success
- 1 Tony Benn dead: Veteran Labour politician passes away at 88
- 2 Arrest made after man is found by the side of the road with his penis cut off
- 3 Tim Berners-Lee on creating the web: 'I never expected all these cats'
- 4 Gauthier Soho has ranted against 'food blaggers' - so can we really trust online reviews?
- 5 Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
iJobs Money & Business
£35000 - £43000 per annum + Bonus and Benefits: Harrington Starr: A global lea...
£50000 - £60000 per annum: Harrington Starr: Linux Systems Administrator - UNI...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...