Government to sell remaining 14% stake in Royal Mail

Westminster will let go of its remaining stake in Royal Mail through a sale to professional investors.

After the close of trading the government said it would begin a so-called accelerated book build immediately.

At Monday’s closing price of 470.3p its 14% slice of the 500-year old postal operator was valued at £660m.

The decision caps off a two-year long privatisation process marked by allegations that the state sold too cheap.

Postal workers received 11% of the company as a part of the privatisation.