Frank Kenyon Roberts, diplomat: born Buenos Aires 27 October 1907; Charge d’Affaires to the Czechoslovak Government 1943; Minister, HM Embassy Moscow 1945-47; CMG 1946 , KCMG 1953, GCMG 1963; Principal Private Secretary to Secretary of State for Foreign Affairs 1947-49; Deputy High Commissioner (UK), India 1949-51; Deputy Under-Secretary of State, Foreign Office 1951- 54; ambassador to Yugoslavia 1954-57; UK Permanent Representative, North Atlantic Council 1957-60; ambassador to the Soviet Union 1960-62; ambassador to the Federal Republic of Germany 1963-68; GCVO 1965; UK Member, Foreign and Commonwealth Office Review Committee on Overseas Representation 1968- 69; married 1937 Celeste Shoucair (died 1990); died London 7 January 1998. The change came last month when Orange refinanced its borrowings with a pounds 1.75bn debt facility.
Under the new financing deal, BAe could sell all of its stake in Orange, as long as 1 per cent of the shareholding was bought by Hutchison Whampoa, the Hong Kong conglomerate which owns 49 per cent of the mobile group. But we’ve got no plans at this stage to reduce our holding,” said a spokesman.Hutchison bought a mobile company from BAe in 1991, leaving the defence and aerospace group with 30 per cent of the business which eventually became Orange. Orange shares also rose 0.5p to 251p.BAe confirmed it intended to cut its stake in Orange, worth pounds 630m, but denied speculation that it wanted to sell its entire investment.

“Over time we want to drift down to a stake which would be a shade under 20 per cent. The covenants allow the two investors to cut their stake to 50 per cent, compared with the minimum shareholding of 62.5 per cent in the previous financing arrangements.The news boosted BAe’s shares, which jumped 24p yesterday, to pounds 17.90. It emerged that new provisions in Orange’s banking covenants allow British Aerospace, which owns 21 per cent of the operator, to sell a much bigger chunk of its shareholding than previosuly permitted. British Aerospace is seeking to sell part of its pounds 630m stake in Orange, the UK’s third largest mobile phone network. Meanwhile, the number of new homes completed fell from 15,700 to 15,200.The confederation said business optimism remained buoyant over the next 12 months with 54 per cent of firms projecting higher growth.

But this masks wide regional variations with Scotland, for instance, expected to continue falling deeply.A balance of 26 per cent of companies expect to take on more labour but an increasing number are reporting skills shortages – hence the call for more training programmes.. The confederation represents an industry accounting for more than 5 per cent of national output and employing 1.4 million people.The confederation’s latest trade survey revealed a marked slowdown in output in the third quarter of last year. The survey reported a balance of 14 per cent of companies reporting higher growth between July and September – down on the level in the previous quarter. Housing output in the public sector fell by 2 per cent during the quarter compared with a year ago while output in new public sector construction projects fell by 19 per cent compared with the same period a year earlier.Figures published yesterday by the Government show that housebuilding remains static, with 14,000 new starts in November 1997 – the same as a year ago. This is disturbing given the clear need for improvements to the nation’s environment.”He added that, in light of the marked differences in output between different regions of the country and even different firms operating in the same area, it was essential that the Budget did not jeopardise what remained a patchy recovery.Calling for a review of the landfill tax, the confederation argued that it had not worked in the way intended and had triggered a 75 per cent increase in fly-tipping. Michael Harrison looks at the first of the many business submissions that will hit the Chancellor’s desk over the next two months. In its annual Budget representation, the Construction Confederation warned that the recovery in the industry remained patchy with growth likely to slow next year unless action was taken to stimulate demand.
The confederation urged the Chancellor to channel more capital receipts into the PFI to generate work where there was spare capacity and restore the cuts in training funds for 18- to 24-year-olds to bolster the industry’s skills base.It also called for a reduction in VAT on renovations and housing alterations, an extension of capital allowances to all commercial buildings, and a review of Capital Gains Tax.Ian Deslandes, the confederation’s chief executive, said: “Whilst continuing growth in construction output is expected in 1998 and 1999, the latest forecasts suggest that growth will be slower than previously anticipated.