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. […]
The Royal Mail board has approved the agreement broached with the Communication Workers Union to end a long-running battle over pay and pension reform.
Royal Mail is increasing prices for some of its mail contracts to help offset the impact of the decline in mail volumes and generate cost savings.
Royal Mail has warned that revenue in its UK parcels business was lower than it anticipated in the last three months due to competition in the market for deliveries.