10.
-3m
Costains have indicated by telephone that their original figure of £16 million approx. has been increased somewhat: they now expect it to be "contained within £17 million", It will take thes six weeks to prepare a new offer, which they will do only if the Tunnel Company show more interest at the commercial levels I would expect this to remain proportionate to the increased price; the increase will also affect the Company's capital structure.
11.
I see we have not received the most recent balance sheets of #heelock Marden & Co. Ltd. and Hutchison International Ltd., and I should be grateful if you could try to obtain them for us. Could you also let us have both status information and balance sheets on the two smaller commercial shareholders. I understand they are Kwong Wan Ltd. (Richard Lee) 5%, and Kadoorie Partners (Lawrence Kadoorie) 1%, but as this information came from the French it may be advisable for you to check these names and participations.
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12. For your information I enclose some cuttings which may already have been picked up by the Hong Kong papers. If you are asked about the Telegraph's comments there is no harm in saying that you understand that Costains are still very much in the running, having indicated a new offer on conditions which the Tunnel Company had previously found generally acceptable.
13. I am copying this letter (without enclosure) to Bunny Carter in F.C.O. and John Gowere in C.R.E.
(E. W. Cotterill)
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