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Royal Mail 'Could Have Been Sold For £1.5bn More' Say Banks

Vince Cable is facing further accusations of selling Royal Mail "on the cheap" after it emerged that 21 City banks estimated its sale could have been done for £1.5 billion more. The Business Department revealed in response to a Freedom of Information request that the average valuation for Royal Mail by the 21 investment banks was between £4 billion and £4.8 billion, significantly above the £3.3 …

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