euronews Royal Mail sell off criticised, cost taxpayers dear says review committeeeuronewsThe privatisation of Britain's Royal Mail was bungled, according to a committee of lawmakers that reviewed the sale. They conclude a fear of failure and poor advice from state-appointed banks meant the government sold the shares much too cheaply.and more » More: continued here
Press TV How Royal Mail was sold on the cheap?Press TVA committee of MPs has run its ruler over the numbers and reached a conclusion on the Royal Mail sale – “the department underestimated the market value.” In other words, a cheque that should have been written out to the taxpayer disappeared in the post….
euronews MPs: Taxpayer Short-Changed On Royal Mail SaleEagle RadioThe 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 …Royal Mail sell off criticised, cost taxpayers…
After Royal Mail, ministers might adjust their set on selling Channel 4The IndependentThe criticism levelled at Vince Cable over the botched Royal Mail flotation this week might have an unlikely consequence. No, it won't claim the Business Secretary's scalp because in a delicately balanced Coalition Cabinet, the Liberal Democrat is too … More: continued here
New York Times Parliament Committee Criticizes Handling of Royal Mail IPO in BritainNew York TimesLONDON – A Parliament committee sharply criticized the British government on Friday for its handling of the initial public offering of the Royal Mail, saying officials failed to maximize “value for money for the taxpayer.” In a report, Parliament's … More:…
In a damning verdict, the Business Select Committee stated baldly that the Government lost out on as much as £1 billion. More: continued here
Royal Mail rip-off sale cost taxpayers £1bnRT (blog)Taxpayers may have lost 1 billion pounds from the undervaluing of Royal Mail shares following October's privatization, said a committee of MPs. Royal Mail shares were initially priced at 330p, but jumped as high as 618p per share, and now stand at … More: continued here
Cable accused of 'talking down' Royal MailThe IndependentLabour's Chuka Umunna launched an attack on Vince Cable last night, claiming the Business Secretary was deliberately “talking down” the value of Royal Mail in order to defend himself against the damning report by MPs on the “botched” privatisation of … More: continued here
Wall Street Journal (blog) Royal Mail Report Questions Investor RolesWall Street Journal (blog)It said that while it had no evidence of inappropriate behavior from the banks employed by the government to float Royal Mail, the Department for Business, Innovation and Skills should give “serious consideration to excluding any company involved in … More: continued here
UPDATE 1-UK lawmakers criticise government and advisers over Royal Mail saleReuters UKMinisters have staunchly defended the government's handling of the sell-off, which followed three failed attempts by previous administrations to privatise Royal Mail, saying they were cautious to reduce the risk of the launch being a flop in the face … More: continued here