Hong Kong Electric were included because they are 35% owned
by Hutchison Whampoa and because their UK imports are valued at £21 million per year. Mr Heap has not yet informed
Mr Murray of the Advisory Group's conclusions, but believes
that he may have correctly guessed the outcome.
4.
A report in the Financial Times of 6 February indicated
that Hutchison have made a bid to buy the 34.7% of
Cavendish's shares which they do not already own.
This may
be because the shares are considered to be undervalued and
therefore a bargain acquisition. But it may also be that
Mr Li Ka-Shing has an eye on the question of eligibility as a British Undertaking. Mr Heap has confirmed that this change might influence the Advisory Group to agree to
Cavendish's inclusion in the list.
DAWAHI/4
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