00 DO I
GR 275
CYPER/CAT A
FM BTC HONG KONG 131201Z
CONFIDENTIAL
бо
TOP+3=501
горта
DOTRES (2) День De HAGD dell Deniza
K129 X3.HKK.164/1
TO IMMEDIATE D.0.1 TELNO.INDUS 7 OF 13 JAN 78.
จ
FOR LIPPITT.
M.I.P.T.
No
See
113
1. I FEAR THAT BOTH SIR LAWRENCE AND SIR SIDNEY GORDON ARE
ADAMANT THAT THEY WILL HAVE NOTHING TO DO WITH LAZARDS. 1 HAVE BEEN SUBJECTED TO A TIRADE AGAINST HUGO KINDERSLEY WHO IS ALLEGED TO HAVE THREATENED AND ABUSED CLP IN AN UNNACCEPTABLI
MANNER.
2. I COULD MAKE NO IMPRESSION WITH THE ARGUMENTS IN THE FINAL PARAGRAPH OF YOUR INDUS 8 AND, WHILE POINTING OUT THAT THE RESPONSE WAS 180 DEGREES FROM OUR PROPOSALS, HAD TO AGREE TO FORWARD IT TO YOU.
3. THE DISPUTE WILL SPILL OVER TO OUR PUBLICITY PROPOSALS. CLP WISH ALL REFERENCES TO LAZARD'S WORK ON THE HONG KONG DOLLAR OFFER TO BE EXCISED AND REQUEST THAT SCHRODERS SHOULD BE PRESENT AT YOUR UNATTRIBUTABLE PRESS BRIEFING. SIR LAWRENCE AT ONE TIME SAID THAT UNLESS HIS VIEWS ON SCHRODERS LEADING ROLE WAS ACCEPTED HE WAS PREPARED TO ABANDON THE WHOLE DEAL AND SIR SIDNEY SAID THAT HE WOULD RESIGN FROM THE BOARD OF ANY COMPANY WHICH WAS PREPARED TO DEAL WITH LAZARDS.
4. I UNDERSTAND THAT SIR SIDNEY'S ANGER STEMS FROM THE TIMING
OF LAZARD'S PRESS ANNOUNCEMENT OF THEIR ARRANGEMENT OF A HONG KONG DOLLAR FACILITY FOR THE NEXT PHASE OF THE MASS TRANSIT RAILWAY BUT, I DO NOT OF COURSE HAVE ANY BACKGROUND TO THE ORIGINS OR REAL REASONS FOR THE DISPUTE. ! RECOMMEND THAT
YOU SHOULD EXPLAIN THE SITUATION TO HADDON-CAVE AS THE HONG
KONG GOVERNMENT SHOULD BE AWARE OF THE CLP'S DIFFERENCES WITH SUCH AN IMPORTANT U.K BANK. SIR LAWRENCE HAS SENT COPIES
OF YOUR MESSAGE AND HIS RESPONSE TO THE GOVERNOR.
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