Business Secretary Vince Cable yesterday told MPs that the
government will sell a majority stake in Royal Mail this financial year,
through a flotation on the London Stock Exchange. In a statement to MPs, it was
announced that Royal Mail employees would be given 10 percent of shares for
free, and that the public will be able to buy shares. The deal, which is the
largest free stake of any major UK privatisation, does not include the Post
Office. A date for the proposed flotation of Royal Mail has yet to be
announced.
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