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Part of the debate – in the House of Lords at 2:39 pm on 30th April 2002.

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Photo of Lord Sainsbury of Turville Lord Sainsbury of Turville Parliamentary Under-Secretary (Science and Innovation), Department of Trade and Industry, Parliamentary Under-Secretary (Department of Trade and Industry) (Science and Innovation) 2:39 pm, 30th April 2002

My Lords, Consignia's discussions with TPG were about exploring whether a merger of its postal activities with the Dutch group would be commercially beneficial to the company. It was not however possible to reach common ground. If the merger had gone ahead, it was likely to have involved an exchange of the share capital in Consignia plc by Consignia Holdings plc for shares in the merged entity.