CYPHER/CAT’A’
CONFIDENTIAL
PRIORITY HONG KONG TO EXPORT CREDITS GUARANTEE DEPARTMENT
98 A
TEL NO. EXCED 62
21 MARCH, 1969
CONFIDENTIAL
ADDRESSED FCO AS EXCED 62 OF 21ST MARCH.
FOR COTTERILL FROM HANNAM.
TUNNEL.
RECEIVE RU ARCHIV
28 MAR 1009
HKK 21/41
YOUR EXCED 51(NOT TO ALL). THE TIMETABLE IS SLIPPING A BIT,
BUT I THINK WE ARE NEARLY HOME NOW (OR AT LEAST I AM).
2.
A)
THE PRESENT POSITION IS AS FOLLOWS:-
THE EXECUTIVE COUNCIL ON MARCH 18 APPROVED THE RECOMMENDATION
PUT TO THEM, SUBJECT TO THE TERMS OF THE QUOTE ORIGINAL LEGCO
RESOLUTION UNQUOTE. I HAVE NOT OF COURSE BEEN GIVEN ANY OUTLINE
LET ALONE DETAILS OF THE PAPER THAT WENT TO EXCO OR OF THEIR
DISCUSSIONS, BUT I GATHER IT PROPOSED A GOVERNMENT SHAREHOLDING
AND THE GIVING OF A SEVERAL GUARANTEE.
B) THIS DECISION HAS NOT REPEAT NOT YET BEEN CONVEYED OFFICIALLY
TO THE TUNNEL COMPANY. THE LETTER IS BEING DRAFTED AT PRESENT
AND MAY REACH ITS DESTINATION ON MARCH 22, BUT MORE LIKELY WILL
NOT ARRIVE UNTIL EARLY NEXT WEEK.
C) BROTHERS AND SCALES WANT TO START NEGOTIATIONS WITH YOU AS
SOON AS POSSIBLE, AND ARE PREPARED TO FLY AT 24 HOURS NOTICE
D) THEY MUST HOWEVER RECEIVE THE GOVERNMENTS OFFICIAL REPLY BEFORE
THEY CAN NAME A DATE. MUCH AS THEY HOPE TO GET TO YOU BEFORE
EASTER, THEY HAVE ADVISED COSTAINS TO THINK IN TERMS OF THEIR
ARRIVAL AFTER THE HOLIDAY, IN CASE THE GOVERNMENT'S REPLY
I IS FURTHER DELAYED, OR THERE ARE ANY POINTS WHICH ARISE FROM IT
THAT NEED ATTENTION PRIOR TO THEIR DEPARTURE.
LATT
R
CONFIDENTIAL
99
/E)