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Nick Clegg: Vince Cable Got Royal Mail Share Price Right Despite NAO Criticism

admin April 3, 2014 Royal Mail Leave a comment 78 Views

Nick Clegg has backed Vince Cable's pricing of Royal Mail in the communications firm's privatisation, despite the National Audit Office saying it was sold off too cheaply. After taking advice from the investment banks Goldman Sachs and UBS, UK Business Secretary Cable priced Royal Mail at 330p a share. Royal Mail's share price is now trading at around 70% above this. The NAO said Cable's "deep …

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