Royal Mail Announces Idea for IPO
Recently, strategies for an initial public offering (IPO) have been declared by the 360-year-old postal service, Royal Mail Group Ltd., of the UK. A report unfolded that the aim is to bring an increase in funds.
It is being believed that the same would help the delivery company in reclaiming a cutthroat edge against the rivals in Europe.
The government today announced that the IPO would be occurring in the upcoming weeks. However, an estimated value of the firm has not been offered as yet.
As per the findings, the stake's size would be decided by market conditions. It is expected to be the biggest privatization in the U. K. ever since British Rail was broken by the then Prime Minister John Major in the
Business Secretary Vince Cable affirmed that the final part of the amelioration was being completed by them. The reforms had been agreed two years back by Parliament.
Royal Mail, reportedly, has looked for adaptation of its letter-focused network to advanced lucrative package shipping notwithstanding competition from Netherlands' TNT NV (TNTE) and DHL Express of Deutsche Post AG (DPW).
"The government has not addressed the huge concerns which remain on the impact the Royal Mail sale will have on consumers, businesses and communities", stated Chuka Umunna, shadow business secretary.
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