LONDON: Britain's government on Thursday officially launched plans to privatize more than half of Royal Mail, saying an initial sale of shares in the state-run postal service would occur within weeks.
"Her Majesty's Government today announces its intention to proceed with an initial public offering of Royal Mail," said a joint statement, which added that the IPO was "expected to take place in the coming weeks".
Royal Mail is to list on the London Stock Exchange, while the coalition government said it would "retain flexibility around the size of the stake to be sold".
Source : The Times of India
Post a Comment