asked Her Majesty's Government:
In the light of their commitment during the passage of the Postal Services Bill through this House, that in connection with acquisitions and disposals, the Post Office would conform to the reporting requirements of the Stock Exchange, why the Post Office did not immediately announce publicly the failure of the recent negotiations.
During the passage of the Postal Services Bill, I said that it was our intention "that the Post Office company should provide transparent information on completed acquisitions and disposals along the lines of the London Stock Exchange disclosure requirements;" (Official Report,
Under Chapter 9. paragraph 9.4 of the UK Listing Authority Sourcebook, a company need not notify a regulatory information service about impending developments or matters in the course of negotiation. In addition, the possible merger negotiations between Consignia and TPG did not reach a stage where an announcement was required under section 2.2 of the Takeover Panel's City Code on Takeovers and Mergers.