UK's Osborne defends Royal Mail sale price


LONDON, Oct 22 (Reuters) - British finance minister GeorgeOsborne hit back on Tuesday at criticism that the governmentsold a chunk of postal service operator Royal Mail toocheaply.

Osborne, speaking at a Thomson Reuters Newsmaker event, saidinitial public offers are routinely offered at a discount andthe government had followed advice from its bankers on detailsof the sale.

"On all fronts it has been a great success" which wouldboost investment in the company, he said.

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