Royal Mail shares: Vince Cable defends flotation price as shares hit 500p

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Business secretary tells MPs that stock was sold at 330p and no higher to reflect risk of strike action by Royal Mail workers Vince Cable has written to MPs to defend the pricing of the Royal Mail flotation as shares in the postal service closed above 500p at the end of their first full week of trading, representing a paper profit of 52% for investors. Vince Cable claimed in a letter to …

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