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What Price Royal Mail Shares? The IPO's Critics are too Harsh on Vince Cable

It seems like every week that someone lobs another brick at the government, Business Secretary Vince Cable in particular, over the privatisation of Royal Mail. That Royal Mail's share price is, at the time of writing, around 80% above its offer price just five months on from the flotation doesn't help the government's case that it properly valued the firm. The government and its advisers could …

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