The Independent Lazard Asset Management was a Royal Mail priority investor and made £8m …Bureau of Investigative JournalismInvestment arm of the government's adviser in controversial float of Royal Mail was given priority status. (Image: Royal Mail via shutterstock.com). Lazard Asset Management (LAM), the investment arm of the government's independent adviser …
Read More »Royal Mail: did the government and bankers short-change Britain by £750m? – Bureau of Investigative Journalism
Royal Mail: did the government and bankers short-change Britain by £750m?Bureau of Investigative JournalismQuestions are being asked about the government's float of the Royal Mail. (Image: The Royal Mail via Shutterstock.com). In a City career spanning more than 50 years, it takes something quite exceptional to shock veteran Square Mile …
Read More »Vince Cable vows ‘no apology’ over Royal Mail sale – Telegraph.co.uk
Vince Cable vows 'no apology' over Royal Mail saleTelegraph.co.ukVince Cable has insisted there will be “absolutely no apology” from the Government over the privatisation of Royal Mail despite accusations from MPs that the delivery company was sold at a “ridiculous” price. The Business Secretary repeatedly told MPs … More: continued …
Read More »Royal Mail Sale Adviser Lazard 'Given Priority Investor Status for Shares'
One of the financial firms advising the government on its sale of Royal Mail – which it has been accused of undervaluing – was a priority investor given special preference in the privatisation, it is claimed. Lazard & Co helped the UK government to set its 330p offer price for …
Read More »British Parliament Berates Officials on Royal Mail IPO – New York Times
British Parliament Berates Officials on Royal Mail IPONew York TimesIn the case of Britain's Royal Mail, it is the company's soaring value that has ignited outrage. At a testy hearing in front of a parliamentary committee on Tuesday, Vince Cable, the British business secretary, faced a fresh grilling over how …
Read More »Royal Mail ‘priority investors’ revealed – Financial Times
Telegraph.co.uk Royal Mail'priority investors' revealedFinancial TimesVince Cable on Wednesday published the names of 16 “priority investors” in Royal Mail as the government came under renewed criticism over last autumn's privatisation of the postal operator. The business secretary had previously refused to name the …Lazard Asset Management was a Royal Mail priority …
Read More »eBay Takes Tax Charge, Shares Slump
eBay Inc. (EBAY) shares slumped post its earnings report, despite the fact that the company's earnings were ahead of the Zacks Consensus Estimate. More: continued here
Read More »Royal Mail Float: Priority Investors Revealed By Vince Cable – Huffington Post UK
Royal Mail Float: Priority Investors Revealed By Vince CableHuffington Post UKThe National Audit Office revealed that many of the priority investors sold out their shares swiftly after the flotation, making huge profits within the first few weeks as the Royal Mail's share price soared by 72% over the first five …
Read More »Royal Mail Sale Would Have Thatcher 'Turning In Her Grave', Warns Margaret Hodge
Royal Mail 's controversial privatisation would have Margaret Thatcher "turning in her grave" as the business' shares went to a "masonic lodge" of City firms rather than ordinary investors, Labour MP Margaret Hodge has warned. Hodge, chairman of the influential Public Accounts Committee, launched a fierce attack on the Royal …
Read More »Royal Mail float: Government admits hedge funds were favoured – Evening Standard
Evening Standard Royal Mail float: Government admits hedge funds were favouredEvening StandardAn analysis of Royal Mail's share register shows that Och-Ziff, an aggressive US-based hedge fund, had a holding of 10 million shares on 15 October, the day the company's shares started trading. A week later it had reduced its …
Read More »