Having fired the starting gun on the sale of its remaining stake in Royal Mail last week, the government is out of the blocks and has sold 15% of its shareholding to institutional investors. A statement from the Department for Business, Innovation and Skills (BIS) this evening (10 June) said it was selling the 150 million ordinary shares via a share placing. Ahead of this, the government’s stake in Royal Mail was put just shy of 30%, worth around £1.5bn. […]
Royal Mail will launch the UK’s largest click and collect network later this year, introducing the service to over 10,000 Post Office branches.
The big event for the MT basket of transport shares – the MT Tracker – is that Royal Mail will be joining this watching brief from tomorrow. The BBC is already reporting this morning that shares will trade at the top of the price range (around 330p) giving it a value of £1.7bn.
Royal Mail has said there are “no grounds” for the strike action its employees voted in favour of yesterday, as tensions over a range of issues including pensions came to a head.