TNAG-0424-FCO40-470-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 22

CONFIDENTIAL

3. MEANWHILE SUCH SIGNALS AS WE ARE GETTING FROM THE EUROPEANS ND EVEN FROM THE JAPANESE SUGGEST THAT ALL THE CONSORTIA CONTINUE TO HAVE STRONG RESERVATIONS ABOUT THE CEILING PRICE POLICY, AND THAT THEY ARE UNLIEKLY FINALLY TO COMMIT THEMSELVES WITHOUT AN ESCAPE CLAUSE IN THE FINE PRINT. I WOULD BE GRATEFUL FOR YOUR PRIVATE ASSESSMENT OF THE SITUATION.

DOUGLAS-HOME

FILES

HD/HKTOD HD/TRED MR YOUDE

MR MARSHALL' SIR D WATSON

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CONFIDENTIAL

COPIES TO:

MR GLAVES-SMITH

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