| In
December 2001 the group entered into a sale and leaseback
transaction with Telereal under which substantially all
of the group’s interest in most of its UK freehold
and long leasehold properties and its obligations in respect
of rack rented properties were transferred to Telereal
for cash consideration of £2,380 million. Of the
total profit from the sale of property in the year to
31 March 2002, £1,019 million relates to this transaction.
|
