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UK plans final send-off for Royal Mail

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UK plans final send-off for Royal Mail

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The UK government is to sell its remaining 30 percent stake in Royal Mail – worth around 1.5 billion pounds (around 2 billion euros)

British Chancellor George Osborne said the sell off is part of efforts to fix the UK’s budget deficit by 2018/19 without increasing income tax or VAT.

The UK offloaded a 60 percent stake in Royal Mail in 2013, but attracted criticism for selling it too cheaply when shares soared following the sale.

Osborne said the final tranche of shares will only be sold when the government is sure it will get value for money.