Home / Royal Mail / Royal Mail Shares Hurt Taxpayer as Priced Too Cheaply By Vince Cable, says NAO

Royal Mail Shares Hurt Taxpayer as Priced Too Cheaply By Vince Cable, says NAO

The National Audit Office has slammed Britain's business secretary Vince Cable for undervaluing the Royal Mail's IPO price, which was set at a maximum price of 330p-a-share. The shares have since risen as high as 615p, and the NAO's findings state that the government's overly cautious approach has shortchanged the nation, while providing an easy killing for "priority" investors such as banks and …

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