Royal Mail Worth £3.3bn
September 27, 2013 by staff
Royal Mail Worth £3.3bn, Royal Mail shares are to be sold by mid-October, before postal workers have a chance to strike over the move.
The company is valued at £2.6bn to £3.3bn, the government said on Friday.
The Department for Business said Royal Mail would list on the London Stock Exchange next month. BBC business editor Robert Peston says that the privatisation should be complete by 15 October.
He adds that this is “long before” a possible strike could happen.
Postal workers will on Friday begin voting on whether to take industrial action to oppose the plan.
In a statement, the government said that 10% of the shares, priced between 260p and 330p, would be given to about 150,000 “eligible UK-based Royal Mail employees”.
The government will also sell between 40.1% and 52.2% of the Royal Mail under its privatisation proposal.
“There is perhaps a Thatcherite confrontational tint to the whole exercise, unusual for a government led by David Cameron, whose own ideological roots seem more Blairite than Iron Lady”
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