In 1979, the Conservative Party government led by Margaret Thatcher began privatising the nationalised industries, and Cable and Wireless was an early candidate because of its history as a private company. The plan to privatise was announced in 1980. The government sold the first half of its share in Cable & Wireless in November 1981. In February 1982, the government granted a licence for a UK telecommunications network, Mercury Communications Ltd, as a rival to British Telecom. It was established as a subsidiary of Cable & Wireless.