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UK government sells half remaining Royal Mail stake

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UK government sells half remaining Royal Mail stake

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The British government has sold half of its remaining 30% stake in the world’s first postal service the Royal Mail for just over a billion euros.

Two years ago the sale of the first batch of shares in the 500-year-old business was criticised for selling off the asset too cheaply, an accusation seemingly borne out when they subsequently jumped 87%.

In 2013 the government got 330 pence per share. On Thursday the sale reaped 500. Workers are also being offered up to one percent more of the company shares on top of the 10% they were gifted in 2013.