Breaking: ConDem Coalition going ahead with Royal Mail Sellout

Posted: May 29, 2013 by tallbloke in Accountability, Philosophy, Robber Barons

From the New York Times:

postboxLONDON – Britain is preparing to privatize Royal Mail, the country’s postal service, whose origins date to 1516 and the carrying of post for Henry VIII and the Tudor court.

The government said on Wednesday that it had appointed Goldman Sachs and UBS as the lead banks to manage a planned initial public offering on the London Stock Exchange later this year. Barclays and Bank of America Merrill Lynch will also work on the sale. The planned offering could value Royal Mail at about £3 billion ($4.5 billion), according to some analysts.

The government has been considering a sale of Royal Mail for years, but plans became more concrete over the last year when the company’s finances started to improve. Pressure is also growing on the government to find additional savings to reduce the budget deficit.

Read the rest here

Comments
  1. J Martin says:

    Do any countries have their primary postal service privatised. The only people to benefit will be the banks. I’d be surprised if postal charges go down. The people should get to vote on this.

  2. […] Breaking: ConDem Coalition going ahead with Royal Mail Sellout […]

  3. Fanakapan says:

    Value it cheap, encourage public participation, knowing that they will sell almost immediately, thus allowing the cronies to take possession. Then arrange to be Out of Office when the flaws in the idea become apparent 🙂