Royal Mail denies takeover talks with private equity firm

Royal Mail said on Thursday that it is not in talks with a private equity investment group about a possible takeover.

"We are aware that in recent media interviews, Dave Ward, the General Secretary of the CWU has indicated that we are in ‘secret talks’ with a private equity investment group, he believes, regarding a takeover of Royal Mail," it said. "The company wishes to make clear that this is not true. We are involved in no such talks."

Royal Mail was responding to recent press reports in which Ward said the company’s bosses should be investigated for corporate corruption over "secret talks" to break up and sell the group.

Ward has expressed concerns about a potential sale to Luxembourg-based private equity firm Vesa Equity Investment. He has warned the move could threaten thousands of jobs at the privatised company and worsen services.

Royal Mail workers are currently staging a 48-hour strike in a dispute over pay.