Mr Cable (pictured) is singled out the withering analysis for dismissing claims that the shares – which rocketed 38% on the first day – were undervalued as 'froth'. More: continued here
Read More »U.K. Taxpayers Shortchanged on Royal Mail Sale, Committee Says
U.K. taxpayers missed out on “significant value” in the sale of Royal Mail Plc (RMG) as the government’s fear of failure meant the shares were floated at too low a price, an all-party panel of lawmakers said. More: continued here
Read More »Taxpayers 'lost £1bn' on Royal Mail
Taxpayers may have lost out on around £1bn in undervalued Royal Mail shares and assets, a committee of MPs has said. More: continued here
Read More »UK lawmakers criticise government and advisers over Royal Mail sale
By William James LONDON (Reuters) – Britain's biggest privatisation in years was blighted by a fear of failure and poor advice from state-appointed banks, a committee of lawmakers said on Friday following an inquiry into the 2 billion pound ($3.4 billion) sale of Royal Mail . Britain sold a 60 …
Read More »Why the Royal Mail sell-off proved a right royal rip-off – The Guardian
The Guardian Why the Royal Mail sell-off proved a right royal rip-offThe GuardianMinisters' fear of failure and poor advice from City advisers were two reasons why taxpayers were ripped off in the privatisation of the Royal Mail, concludes the business select committee. Fair comment. The National Audit Office reached a …
Read More »Royal Mail share price fail lost taxpayers £1bn says MPs' report as Vince Cable slammed
Taxpayers lost out on at least £1billion because the Government flogged Royal Mail on the cheap, a committee of MPs has found. The group’s scathing report said Business Secretary Vince Cable massively underestimated the demand for shares because of shoddy advice from bankers. More: continued here
Read More »MPs: Taxpayer Short-Changed On Royal Mail Sale
The controversy over the £3.3bn privatisation of Royal Mail has erupted again as an influential group of MPs has criticised Vince Cable over his handling of the sale. In a coruscating report, the Business, Innovation and Skills (BIS) Select Committee endorsed the view of the National Audit Office (NAO) that …
Read More »Royal Mail sale 'lost taxpayers £1bn'
Taxpayers may have lost out on around £1bn in undervalued Royal Mail shares and assets, a committee of MPs says. More: continued here
Read More »Britain to Review IPO Process After Criticism of Royal Mail Offering – New York Times
New York Times Britain to Review IPO Process After Criticism of Royal Mail OfferingNew York TimesLONDON – The British government began an “informal review” on Wednesday of how it pursues initial public offerings of government assets in the wake of questions about whether the Royal Mail offering last year was …
Read More »Taxpayers ‘lost £1bn’ on Royal Mail sale, MPs say – BBC News
BBC News Taxpayers 'lost £1bn' on Royal Mail sale, MPs sayBBC NewsTaxpayers may have lost out on around £1bn from the undervaluing of Royal Mail, a committee of MPs has said. The government feared failure and acted on bad advice over the Royal Mail stock market flotation, reports the Business, …
Read More »