Royal Mail sale was underpriced by £1bn, says British MPs panel
July 11 , 2014
British taxpayers lost as much as £1 billion because the privatization of Royal Mail was underpriced, an MPs committee has said.
The government was too concerned about going through with privatization at the expense of getting a good deal for taxpayers, the Business, Innovation, and Skills committee said in its report.
Royal Mail was privatized in October 2013, with the government selling 60% of its stake at 330p per share. The company was valued at £3.3bn.