Royal Mail hikes 1st class stamp 30 percent in runup to privatisation

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LONDON (Reuters) – State-owned Royal Mail Group hiked the price of a first-class stamp by an inflation-busting 30 percent on Tuesday in the latest move towards a privatisation now expected to take place in the first quarter of 2014. Fresh from new price-setting powers outlined by industry regulator Ofcom earlier on Tuesday, Royal Mail said that from April 30 the price for a first class letter …

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