8bn pounds sterling Telekom five times subscribed in record sell-off

Article Abstract:

The 8 billion pounds sterling flotation of Deutsche Telekom has been five times oversubscribed worldwide, and has attracted particular interest from domestic private investors. This goes against earlier claims that there was very little interest in private shareholding in Germany. At present, only 5% of German private investments are held in shares. Of the 600 million shares allocated, 90 million were kept back for later allocation and the remaining two-thirds went to Germany.

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Return to surplus not expected for at least five years

Article Abstract:

The Treasury forecasts a PSBR of 4.5% of GPD in the financial year 1992/3, down to 2.5% 1995/6 and to 0.75% in 1996/7. Return to surplus will not happen during the life of the government. Independent forecasters had expected British growth to be low for several years because of membership of the ERM. The markets expected a lower PSBR than the Chancellor announced. Receipts from taxes have been less than predicted.

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A poacher turns into a sceptical gatekeeper

Article Abstract:

It is important that the OFT has adequate powers to investigate corporate takeovers, according to John Bridgeman, the new director general of fair trading. He believes that the organisation has a key role to play in co-ordinating the many consumer pressure groups in the UK. He is focusing on developing a new consumer affairs strategy, and will draw on 20 years of experience in mergers and acquisitions.

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