|
|
17 Dec 2008
Lord Peter Mandelson, the business secretary, has revealed the government is considering selling a minority stake in its poor-performing Royal Mail in what he describe as an essential move to maintain deliveries six days a week across the UK.
The Dutch postal giant TNT responded immediately, saying it was eager to open talks on developing a 'strategic partnership' with Royal Mail. Other possible bidders include German-owned DHL Express and UK's Business Post Group, The Independent reports.
It is understood ministers – who are said to have started urgent negotiations with private investors leading up to a decision early in the new year – will offer a stake of between 25% and 33% in Royal Mail.
The business secretary told peers a massive injection of private capital was vital to secure Royal Mail's long-term future. 'It is the only company capable of delivering mail to every address in the UK, six days a week, and... that will be the case for the foreseeable future. So a healthy Royal Mail is vital to sustaining the universal service,' he said.
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment