going ok, page-4

Please tell me if I'm wrong, but as I understand it, according to the Companies (Acquisition of Shares) Bill 1980, Part 8 (f) (iv) states the following -
"compulsory acquisition procedures can be used once an offeror holds 90% of the voting shares in the target company and may be initiated by:-

- the offeror (see Bill cl. 42) or

9.

- the remaining shareholders and holders of options, notes and non-voting shares (see Bill cl. 43)".

which to my way of thinking means that unless Saville can gain control of 90% of total shares issued, either by a further dilution or direct purchase, he can't privatise the company. Remember BT has an almost 10% shareholding, and there are 18,000 other shareholders waiting, waiting, waiting......