Michael Howard on water share certificates

Title

Michael Howard on water share certificates

Genre

Interview

TX Date

11 Dec 1989

Year of production

1989

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Duration

00:02:32

Description

Stockmarket watchers are expecting quick profits of at least 20 per cent when water shares start trading tomorrow. Earlier today, the Government’s advisers, Schroders, announced that the sale was 5.7 times oversubscribed, with 2.7 million people applying, making water the second most popular share offer, after British Gas, which attracted 4 million applications. Everyone who applied will receive some water shares, with smaller investors being favoured in the allocations. But, private investors are disadvantaged because when dealing begins tomorrow, only those with arrangements with their stockbrokers will be able to deal. Everyone else will have to wait for their share certificates, which are due to arrive in the week before Christmas. Environment Minister, Michael Howard has been telling Danny Bowers that he hopes people won’t automatically sell their shares.

Contributors

Michael Howard; Danny Bowers

Keywords

Government; Economics; Privatization; Investment; Water; Share dealing; Water utilities

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