UK government rules out selling remaining 30% shareholding in Royal Mail before 2015 general election
The UK government has indicated that it will not sell its remaining 30% shareholding in Royal Mail before the general election in 2015, The Guardian reported. The newspaper quoted UK business secretary Vince Cable, who said he thinks the government should retain its stake at present, adding that the government will not do anything in the “foreseeable future."
The government floated Royal Mail, the UK’s national mail delivery service, last October at a flotation price of 330p. The share price subsequently hit 600p but has fell back this year. Royal Mail’s share price closed 2.5p down at 420.6p in London yesterday, 27 November, giving the company a market capitalisation of GBP 4.20bn (EUR 5.30bn).
The Guardian