New York Queers the Pitch for British Telecom and Reuters
Article Abstract:
The rules of the Securities and Exchange Commission (SEC) banning pre-registration publicity, for thirty days prior to draft prospectuses being delivered to investment banks and brokerage houses, is causing problems for the British government's plan to offer fifty-one per cent of the shares in state-owned British Telecom (BT) simultaneously in London and New York this fall. The British government hopes ordinary British people will opt to purchase equities, which will require heavy advance advertising. The British Treasury does not want to make an offering first in London, followed by one in New York BT's accounts must be gotten in order before the sale.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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Possession and Wytchcraft
Article Abstract:
The chairman of British Gas has successfully delayed the sale of British Gas' half share in the Wytch Farm oilfield to a private oil consortium for over four years. Legislation for the privatization of British Gas will probably be drafted during the next year. However, the current energy secretary agrees with British Gas' chairman, that the corporation should not be broken up. They seek the approval of a plan to sell fifty-one per cent of the company's shares on the stock market.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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