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End of 500 year link

Government sells remaining stake in Royal Mail

Royal MailThe government has sold its remaining 13% holding in Royal Mail, earning £591.1 million, including a gift of 1% to postal staff.

It alerted investors after the market closed last night and said today that it completed the disposal through an accelerated book building process to institutional investors at a placing price of 455p.

The sale marks an end to state ownership of the service for 500 years.

 

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