Conclusion
17
and
The transfer of Telco's associated companies is Administration's
interests in its
interests in its subsidiary
in compliance with the request, (paragraph 16 above) to confine Telco's interests to those exclusive services which are subject to Government control. In order to ensure that, in line with the conditions upon which the Governor in Council initially agreed to the deregulation of certain competitive services, these services are not financially supported by the exclusive services, and that Hong Kong Telecom does not accord any special privilege to the subsidiaries providing these services, it is recommended that the conditions as set out in paragraph 5(a) (c) be imposed.
-
Financial and Staffing Implications
18
None.
Public Reaction
19
No public reaction is expected.
Publicity
20
Since publicity has already been given to the setting up of Hong Kong Telecom and the transfer of Telco's interests in its former subsidiary and associated companies, no further publicity is required. A Legislative Council brief on the reorganisation of CWplc's interests in Hong Kong was issued in November 1987 and no further brief will be issued.
(The Principal Assistant Secretary (Economic Services) Financial Monitoring, Mr P.G. WINDER and the Senior Crown Council, Mr S.C. TISDALL, will attend for this item.)
17 May 1988
COUNCIL CHAMBER
(ESB CR 7/1026/75 VI)
CONFIDENTIAL