Decision time over REC takeovers
Thursday 24 August 1995
"Strictly speaking, there are no competition issues involved in any of these bids. Despite calls from old Labour for Hanson - which still seems to be seen by some as the capitalist devil incarnate - in particular to be referred, it is hard to see how this can be justified, provided adequate regulatory safeguards are put in place.
"The same goes for the Southern bid for Sweb. To refer simply because Southern is foreign would be irrational, not to say quite possibly dangerous, for it might prompt retalitatory action by the Americans.
"The Scottish Power bid is the more tricky one. This is the first takeover bid by one power company for another within Britain. Moreover, this is a generator bidding for a distributor so there are separate issues about the consequences of virtical integration to be considered. However, even accepting there is a better case for referring Scottish than the others, it would cause a stink if Scottish was to be `victimised' and its ambitions stymied in this way while Hanson and the foreigner make hay. The upshot seems to be that you should refer the lot or none of them. To refer the lot is easy but it would be seen by the markets as arbitrary and it would be inconsistent with the mergers policy that recent decision-making has established. It's your shout, Minister."
- 1 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 2 What supermodels really think about posing in the nude
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Black teen in critical condition after store employee 'shoots him for stealing 79-cent pack of cookies'
- 5 Chris Moyles reportedly set to make radio comeback with new breakfast show on XFM
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
North Korean defector flees to Finland 'with evidence of chemical testing on humans'
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
Father faces deportation to Thailand after 27 years in Britain for two 'stupid crimes'
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...