Royal Mail 'Could Have Been Sold For £1.5bn More' Say Banks

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Vince Cable is facing further accusations of selling Royal Mail "on the cheap" after it emerged that 21 City banks estimated its sale could have been done for £1.5 billion more. The Business Department revealed in response to a Freedom of Information request that the average valuation for Royal Mail by the 21 investment banks was between £4 billion and £4.8 billion, significantly above the £3.3 …

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