UK government sells remaining stake in Royal Mail
14.10.2015 499 views
The UK government has now sold off all its shareholding in Royal Mail, selling a 13% stake for GBP 591 million and passing on the remaining 1% stake to postal employees.
The sale means that the Royal Mail is now fully in private hands for the first time in its 500-year history, postandparcel.info reports. Royal Mail’s employees now own 12% of the company.
The UK’s Post Office, which operates the network of post office branches throughout the UK, remains wholly owned by government and was separated from Royal Mail in April 2012. Some observers had reservations about the manner in which the government sold off its remaining stake, the source cites.
Source: The Paypers
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