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  Hi Keith, what DPPT have proposed throughout is an alternative to a conventional privatisation, a radical one at that, one that can demonstrate the achievement of fair value to tthe Treasury and the wider economy without the requirement to seek bids for ownership from remote private equity ventures. As fair value is the denominator required, as advised by the Secretary of State (and not maximum cash), there does not need to be a bidding process for the ownership of the port if one can work out a mechanism that satisfies the Govt and legal bods that fair value has been achieved.

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