asked the Minister for Industry and Commerce if, in the light of recent events, he will consider the setting up of an Irish take-over panel; and if he will make a statement on the matter.
40.
Written Answers. - Take-over Panel.
39.
asked the Minister for Industry and Commerce his views on whether it is acceptable that the take-over panel of the London Stock Exchange should have a role in determining the outcome of takeover bids for Irish firms; if he intends to take any measures to end this role; and if he will make a statement on the matter.
I propose to take Questions Nos. 39 and 40 together.
I have already indicated in the House in reply to Question No. 64 on 19 October 1988 (Vol. 383, column 43-44) that preliminary discussions have been held already between officials of my Department, the panel executive and representatives of the Irish Stock Exchange to discuss, inter alia, the future role of the panel in Ireland. With a view to further progressing these discussions my Department will shortly be seeking the views of the range of local interests concerned in the operation of the city code, following which more detailed discussion will be undertaken with the panel.
In the circumstances, it would be premature for me to make any statement either in regard to the future role of the panel in Ireland or the setting up of an Irish takeover panel.