CABLE AND WIRELESS LTD.
ANOTHER NATIONALISATION AIM STRONG PROTEST FROM COMPANY (Rec. 8 a.m.) LONDON, April 24. Plans for the transfer of Cable .and Wireless Ltd. to public ownership were outlined in a White Paper explaining a Bill which was read in the House of Commons for the first tune last week. The Bill will authorise the Government to acquire shares'in Cable and Wireless Ltd., which it does not hold at present, and pavment of compensation to shareholders. The Government at present owns 2,600,000 £1 shares. It intends to seek parliamentary approval later for the establishment of a Commonwealth Telecommunications 'Board. Following publication of the White Paper,. Cable and' Wireless (Holding) ordinary stock jumped £4 to £lO2. 'Cable and Wireless Ltd., in a statement commenting on the proposed transfer of the company to public ownership, said: "The scheme is impractical, unworkable, and dangerous to the company's foreign concessions. The proposals contained in the White Paper are inimical to the interests of the peoples throughout the Empire and all classes of telecommunications users "
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Bibliographic details
Evening Star, Issue 25776, 26 April 1946, Page 8
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172CABLE AND WIRELESS LTD. Evening Star, Issue 25776, 26 April 1946, Page 8
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