Thursday 29th Sep 2016 - Logistics Manager

Government to sell £1.5bn stake in Royal Mail

The government is to sell its remaining £1.5 billion stake in Royal Mail starting later this year.

Royal Mail HWDC199When the government privatised Royal Mail in October 2013, it retained 30 per cent of the shares.

Chancellor George Osborn unveiled the sell-off plan during a Queen’s Speech debate on the economy.

The stake is held by the Department for Business, Innovation and Skills. The government has appointed Rothschild to advise BIS on the transaction.

The share price at flotation was 330p – they are now trading at 520p.