Two banks priced Royal Mail higher

Updated

%VIRTUAL-SkimlinksPromo%

Old post box being carried away
Old post box being carried away

Two banks told the government that Royal Mail was worth £5bn – half as much again as it was sold it for – before the sale, fuelling allegations that it was undersold.

According to the Financial Times, at least two investment banks priced the sale at £5 a share instead of the £3.30 it was sold at. The shares reached £5 in trading on Friday.

Advertisement