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UK auditor says Royal Mail was sold off cheaply

The Conservative-led government sold a majority stake in the postal service last year, putting the system under private control for the first time in its 500-year history. Audit Office chief Amyas Morse said the government's approach "was marked by deep caution, the price of which was borne by the taxpayer." The auditor also said 12 of the 16 institutional "priority investors" given the chance …

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