Royal Mail Going Private Thursday Sep 12,2013

The British Govt has confirmed plans to privatize the country's 500-year-old Royal Mail this fall.

Business Secretary Vince Cable said Thursday Sep 12,2013 an initial public offering of a majority stake in the postal service was scheduled for the coming weeks

Officials say the expected stock sale will be open to members of the public as well as to larger institutional investors

The minimum investment will be set at 750 pounds ($1,224 Cdn) with Royal Mail employees getting a slice of the stock offering.

About Royal Mail

Royal Mail is the Govt Owned Postal Service in UK

Royal Mail Holdings plc owns Royal Mail Group Limited, which in turn operates -

• Mail (letters) 
• Parcelforce Worldwide (parcels)
• Post Office Ltd  (counters) and
• General Logistics Systems , an international logistics company, are wholly owned subsidiaries of Royal Mail Holdings

Royal Mail Holdings is a Public Limited Company  in which the Secretary of State for Business,Innovation and Skills  owns 50,004 ordinary shares plus 1 special share and the Treasury Solicitor holds 1 ordinary share

The Postal Services Act 2011 enables the government to privatise up to 90% of Royal Mail, with 10% being held by Royal Mail employees.