CONFIDENTIAL
IMMEDIATE
CYPHER CAT A
GRS 110
FROM ROME Ø51623Z
CONFIDENTIAL
DESKBY 051733Z
HKK 21/4 |
329
TO IMMEDIATE FCO TEL NO 863 OF 5/12/73 AND SAVING TO MILAN,
YOUR TEL NO 473 AND TELNO 861.
HONG KONG MASS TRANSIT SYSTEM.
INTERMETRO WERE EVIDENTLY NOT FULLY INFORMED ON LATEST DEVEL-
OPMENTS, THEY HAVE JUST TELEPHONED US TO SAY THAT AT THE REQUEST OF THE HONG KONG AUTHORITIES THEIR OFFICIAL REDUCED THEIR BID
TO INCLUDE ONLY 5% COST ESCALATION PER ANNUM INSTEAD OF 10%. ANYTHING ABOUVE 5% WILL BE FORCE MAJEURE.
2.
THE ANGLO-ITALIAN BID IS THEREFORE NO LONGER 5876 MILLION HK DOLLARS. THIS SEEMS TO FILL THE REQUIREMENT. INTERMETRO'S OFFICIAL HAD AUTHORITY FOR SUCH NEGOTIATIONS ON THE SPOT.
3.
INTERNETRO'S REQUEST FOR FURTHER FOUR MONTHS BEFORE FİNAL BĪD STILL STANDS. THEY HAVE BEEN IN TOUCH WITH THEIR UK PARTNERS
THIS AFTERNOON.
HANCOCK.
FILES
IKIOD TRED
PS/MR ROYLE SIR D WATSON HR YOUDE
COPIES TO:
PS TO S-OF-S
DTI
MR ROYCE
DTI
CONFIDENTIAL
(335.