Should Royal Mail still have to deliver to all the UK for the same price? November 19, 2014 Duncan O’Leary, deputy director of Demos, says Yes. Before Royal Mail was privatised, business secretary Vince Cable stated that the “overarching objective” of the sale was to secure the universal service obligation. In doing so, the government entered into a contract with two groups. First, shareholders, who knew what they were investing in – a [...]
Royal Mail share price falls more than 8 per cent after it warns on parcels business November 19, 2014 Shares in Royal Mail had fallen more than eight per cent to 431p in early afternoon trading, after the company posted disappointing half-year profits and warned its parcel business is likely to be impacted by heavy competition. The business, which was floated at 330p last October, has been the subject of fierce debate, with MPs [...]
Royal Mail share price falls as profits drop after struggles with competition November 19, 2014 This isn't what Royal Mail shareholders wanted to hear in the run-up to its busiest month: shares fell 7.3 per cent in the early afternoon as the 500-year-old postal service said its delivery operations faced "stiff competition" in the first half of the financial year. For the six months to 28 September, pre-tax profit [...]
Lord Myners’ report into Royal Mail mustn’t get lost in the post November 5, 2014 It's the privatisation row that won’t go away. Royal Mail’s shares may have performed limply since their post-flotation peak earlier this year, but their initial surge makes it a safe bet that the sell-off will feature heavily during next year’s general election campaign. Two reports – from the National Audit Office and the Business [...]
Rochester and Strood by-election: Royal Mail refuses to deliver “illegal” Britain First leaflet October 31, 2014 Royal Mail is refusing to deliver a leaflet by the far-right group Britain First to voters in Rochester and Strood, saying it “does not comply with the law”. The by-election, due to take place on November 20, is the first time Britain First has run for a parliamentary seat, though it is also endorsing votes [...]
Royal Mail sells Paddington site for £111m October 14, 2014 ROYAL MAIL, led by Moya Greene (pictured above), has sold its mail centre at Paddington to Singaporean property firm Great Western Developments for £111m. The first site to be sold off since the group floated, it will be remodelled into luxury homes, hopefully larger than stamps.
UBS to advise government on Eurostar sell-off despite claims Royal Mail was undervalued October 13, 2014 UBS has been appointed to advise the government on the sale of its 40 per cent stake in Eurostar, the Treasury confirmed yesterday. The decision is controversial because Swiss bank UBS also worked as book-runners on the Royal Mail deal and was forced to explain claims that the company was undervalued by £1bn at a [...]
Royal Mail row shouldn’t see UBS barred from Eurostar role – Bottom Line October 13, 2014 Bill Ackman was in typically bullish form yesterday, insisting it was “good” that shares in Pershing Square tanked 10 per cent on debut. “If it went up, we’d have sold it too low,” he said. To some extent, he has a point though. If shares turn green and jump considerably after a listing, you can end [...]
Royal Mail share price wavers as £18m deal over French fine is struck October 9, 2014 Royal Mail revealed yesterday that it had set aside £18m to pay an out-of-court settlement with French competition authorities over an alleged breach of antitrust rules in the country. The £18m pot set aside is split into £12m for the fine and £6m to tackle legal costs associated with the case, which is still under [...]
Royal Mail IPO share price: One year on – will Vince Cable have the last laugh? October 9, 2014 The pressure on business secretary Vince Cable to admit that the government made a mistake pricing Royal Mail shares at 330p has been steadily building since the company floated a year ago. On the first day of conditional trading, shares soared 38 per cent, having already opened at 403p. This increase, coupled with fevered appetite [...]