Britain’s Conservative government said that it hasn’t...
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Britain’s Conservative government said that it hasn’t decided whether to give in to pressure and withdraw its huge share sale of British Petroleum Co. PLC shares. “I hope to reach a conclusion by Thursday,” Chancellor of the Exchequer Nigel Lawson told Parliament. He said he was considering pleas by bankers and brokers to withdraw the $12-billion issue because of chaos on world stock markets. The government is selling its remaining 31.5% stake in BP, and the firm is issuing new shares.
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