CODE 18-77
VT37TUE.347
DE 16
File
Reference..
TO:
MS JILL KNIGHT PS/MFT
FROM:
ALAN MURRAY
OT2/2D
KH 733
215 5412
cc PS/Secretary of State
PS/Mr Redwood
PS/Sir Peter Gregson
Mr Roberts
Mr Lane
Mr Meadway
Mr Salvidge Mr Phillips
Mr Johnson Mr Love
OT2
TP
TP2
EEP 1
OT2/2
Mr Anisfield Sp Ad
7 October 1991
CABLE AND WIRELESS INTERESTS IN HONG KONG
Your minute of 17 September reported the Minister's question about whether the FCO was aware of the Chinese Government's stake in Cable and Wireless' operation in Hong Kong.
Following an approach from the Chairman of Cable and Wireless in January 1990, the then Secretary of State consulted both FCO and Treasury on the principle and timing of Cable and Wireless' plans to dispose of a 20% stake in Hong Kong Telecommunications to China International Trust and Investment Corporation Hong Kong (Holdings) Ltd (CITIC). All parties were content. The Foreign Secretary commented that news of the proposed sale had been welcomed in Hong Kong as a positive sign of CITIC's interest in Hong Kong telecommunications industry and confidence in Hong Kong's economy in general.
ALAN MURRAY