Direct line
The Rt. Hon. Nicholas Ridley MP Secretary of State for Trade and Industry
dti
the department for Enterprise
CONFIDENTIAL
The Lord Sharp of Grimsdyke Kt CBE Chairman and CHief Executive Cable and Wireless plc
Mercury House
Theobalds Road
London
WC1X 8RX
Our ref
215 4442
Your ref
NP1AMY
February 1990
Date
5
Seps
HKD
PA Incline (6)
ps/ur Maids in HK
ps/pus.
on Gullinare. WL Mchoren. Me hidington
FED.
16/2 Wo Mr Paul
Holaffed 4/2
M-
Py.
ъте
Department of Trade and Industry
1-19 Victoria Street London SW1H OET
Enquiries
01-215 5000
Telex 8811074/5 DTHQ G
Fax 01-222 2629
tike vall
RECEIVED IN
27 FEB 1990
INDE
TRY
Dear ric
Thank you for your letter of 23 January, asking for my agreement to your plans to dispose of a 20% shareholding in Hong Kong Telecommunications Limited to the China
International Trust and Investment Corporation Hong Kong (Holdings) Limited.
I agree to this disposal.
No doubt you will let me know if, in pursuing your overall ambition to further reduce your shareholding in Hong Kong Telecom, any further disposal requires my agreement under the special share arrangements.
In the light of the Trade and Industry Select Committee's recent interest in special shares I am informing the Committee of this decision. I understand that this will not cause you any problems.
ем
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