Dept for Business Innovation&Skills Government to sell its remaining Royal Mail shares (2563P)
04 Juni 2015 - 2:13PM
UK Regulatory
TIDMRMG
RNS Number : 2563P
Dept for Business Innovation&Skills
04 June 2015
Royal Mail
The Chancellor has announced that the Government will sell its
remaining shares in the Royal Mail, with sales to start this
year.
The stake currently has a market value of c.GBP1.5 billion. The
Department for Business will sell its remaining holding of shares,
completing the privatisation begun with an Initial Public Offering
of shares in October 2013.
The Government has appointed Rothschild to advise BIS on the
transaction. The Government holds a 30% stake in the company, with
the remaining 70% held by a combination of employees (10%) and
private investors.
Any transaction will be designed to deliver best value for money
to the taxpayer, with further detail on the form of the sale to be
announced in due course.
The Chancellor was addressing MPs as part of the Queen's Speech
debate on the economy.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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