Britain will sell its 23% stake in Cable & Wireless.
Chancellor of the Exchequer Nigel Lawson said that, “subject to market conditions,” the government’s remaining share of the communications and telephone company will be sold by March, 1986. The government will retain one so-called golden share to allow it to attend annual meetings and prevent the firm from being taken over by foreign interests, a spokesman said. The government sold 49% of its stake in Cable & Wireless in October, 1981.
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