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82 TOP COSY
CONFIDENTIAL
CYPHER/CAT A
PRIORITY FOREIGN AND COMMONWEALTH OFFICE
TO HONG KONG
TELEGRAM NO 170
6 MARCH 1969 (H.K. DEPT.)
CONFIDENTIAL
PERSONAL FROM LORD SHEPHERD.
YOUR TEL NO 194. AND 203 CROSS HARBOUR TUNNEL.
I AM VERY GRATEFUL FOR THIS INFORMATION AND AM GLAD THAT YOU HAVE FELT ABLE TO ENQUIRE ABOUT THE BANK'S ATTITUDE. IT WOULD BE HELPFUL ALSO TO KNOW WHAT DECISION HAS BEEN RECHED ON OPENING DETAILED NEGOTIATIONS WITH ECGD AND COSTAINS.
2. WE HAVE HEARD SOMETHING OF THE NEGOTIATIONS BEING PURSUED WITH THE FRENCH. MY CONCERN IS THAT WE SHOULD NOT BE
FACED WITH A FAIT ACCOMPLI IN RESPECT OF THE FRENCH OFFER, WITH NO OPPORTUNITY TO CONSIDER OUR POSITION FURTHER, WHILE APPRECIATING
AND ACCEPTING THAT THERE ARE ADVANTAGES TO THE COMPANY IN TAKING PART IN A DUTCH AUCTION, WE WOULD BE GRATEFUL TO LEARN IMMEDIATELY IF AT ANY STAGE THEY SEEMED LIKELY TO CLOSE THE BIDDING AGAINST US.
3. A DRAFT OF PROPOSED GUARANTEE IS NOT AVAILABLE BUT ECGD ARE WORKING ON THE LEGAL ASPECTS
STEWART
FILES
HONG KONG DEPT.
FAR EASTERN DEPT.
F.P. & A.D.
WESTERN EUROPEAN DEPT.
EXPORT PROMOTION DEPT.
SIR A. GAL SWORTHY
MR. MORGAN
P.S. TO LORD BHEPHERD
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