TNAG-2528-FCO40-3698-Proposed-acquisition-of-Midland-Bank-by-the-Hongkong-and-Sha-1992 — Page 14

6.

SO FAR AS LEAKS FROM THE GALLEY BOARD ARE CONCERNED, LEAKS TO THE CHINESE ARE A DIFFERENT MATTER. AS YOU KNOW, WE ARE PRETTY SURE THAT A MEMBER OF THE GALLEY BOARD BRIEF THE CHINESE ON THAT

ARLIER OCCASION. ALSO THAT NEWS OF THE RESTRUCTURING LEAKED FROM THE CHINESE SIDE SHORTLY BEFORE THE PUBLIC ANNOUNCEMENT.

7. IF THE GALLEY BID FOR QUARTERDECK IS FRUSTRATED BY BANK OF ENGLAND OPPOSITION, THE SITUATION COULD CHANGE. I DO NOT THINK THAT WE COULD RULE OUT THE POSSIBILITY OF DISGRUNTLEMENT AND DISAPPOINTMENT LEAKING OUT FROM THE BOARD INTO THE WIDER FINANCIAL COMMUNITY, AND THEN POSSIBLY MORE PUBLICLY.

WILSON

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