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UK's Royal Mail Valued Higher Than Sale Price: FT Report

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UK's Royal Mail Valued Higher Than Sale Price: FT Report

Wochit 0:42 mins

LONDON (Reuters) - Britain's Royal Mail was valued by some investment banks 50 percent higher than last week's public sale price, a newspaper reported, adding to a debate over whether the postal service was sold off too cheaply. In a report on Saturday, the Financial Times said Royal Mail was valued by banks not involved in the sale at up 5 billion pounds($8.09 billion) in June. The newspaper said at least two investment banks pitched a maximum price of about 500p, quoting banking sources. ...

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