§ Mr. Golding
asked the Secretary of State for Trade and Industry what was the total cost of selling British Telecommunications plc, the actual receipts from the sale, the number of shares issued, and the price at which such shares were sold.
§ Mr. Butcher
3,012 million shares in British Telecommunications plc were offered for sale at a price of £1.30 each. Following the final instalment due on 9 April 1986 gross receipts from the sale of shares are expected to amount to £3,855 million. This takes account of the employee share offers and other selling concessions.
Expenditure to date and provisions for future expenditure show the costs of the sale as £139 million for general expenses and £37.1 million for the voucher offer.