Friday, October 25, 2013

Selling cheap...going ...going...gone!

JP Morgan, one of the world's largest investment banks told ministers ahead of the Royal Mail flotation that they could sell the postal business for £10 billion, around two and a half times more than the government finally received for it. Others pitching to sell the Royal Mail on behalf of the government had also priced the mail company as high as £7bn.

The government sold shares in Royal Mail for 330p each, valuing the business at £3.3bn. 

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