in one lump sum capital redemption payment, ownership being formally vested in the Hong Kong Government. After installation, the equipment would be maintained by Cable & Wireless in accordance with the terms of the existing agreement between the Company and Hong Kong. Site formation, buildings and road works would be carried out by the Public Works Department.
11. I hope that ECGD will consider the possibility of issuing a statement on the lines of paragraph 8(iii) as the third element (albeit a minor one) in a package deal. It is understood that a public declaration on these lines could have its disadvantages for us in that it might stimulate counter offers from other countries; in their experience ECGD have no doubt come up against this point before and will know what weight to attach to it.
and to
12. I am sending a copy of this letter to Coe and D. C. Smith (Board of Trade); to Gill (ECGD) and Lucas (Treasury); Ricketts (ODM).
:
(W. S. Carter)
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