Fix Python – Decode HTML entities in Python string?

I’m parsing some HTML with Beautiful Soup 3, but it contains HTML entities which Beautiful Soup 3 doesn’t automatically decode for me:
>>> from BeautifulSoup import BeautifulSoup

>>> soup = BeautifulSoup(“

£682m

“)
>>> text = soup.find(“p”).string

>>> print text
£682m

How can I decode the HTML entities in text to get “£682m” in….