Why the Royal Mail sell-off proved a right royal rip-off

Why the Royal Mail sell-off proved a right royal rip-off
 

The taxpayer lost billions in the sale of an under-valued Royal Mail. Photograph: Hartshead Services Ministers' fear of failure and poor advice from City advisers were two reasons why taxpayers were ripped off in the privatisation of the Royal Mail, concludes the business select committee. Fair comment. The National Audit Office reached a similar damning conclusion in April. To the list, we could add gross naivety, displayed in at least three ways.
First, it was madness for the government to sell 60% of Royal Mail in one go. The business was fundamentally hard to value. Royal Mail had just... read more

 
11 July 2014 in Business, Views: 29
Source: Guardian
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