Sell Royal Mail, Urges Bank That Led Deal

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One of the investment banks that led the £3.3bn privatisation of Royal Mail (LSE: RMG.L – news) told clients to sell the postal operator's shares on Wednesday, arguing that the company was now over-valued. Sky News has obtained a research note issued by UBS (Xetra: UB0BL6 – news) , one of the lead bookrunners on last month's deal, in which analysts set a share price target for Royal Mail of 450p …

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