We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Royal Mail hires advisers prior to privatisation


BofAML, Goldman Sachs and Barclays in the frame

Article comments

In anticipation of its planned privatisation, UK postal services group Royal Mail has hired Bank of America Merrill Lynch (BofAML) and Goldman Sachs as advisers.

In a statement on Monday, it added that Barclays had been confirmed as financial adviser to the group. Barclays already has a banking relationship with Royal Mail.

From the UK government's side, Swiss Bank UBS has been advising the Treasury on the deal which could be the most politically significant privatisation since the sale of British Rail in January 1993.

Royal Mail said that Bank of America and Goldman Sachs would provide it with "additional support relating to early investor soundings to assist with government decision making on the form and timing of a future sale."

However, a spokesperson stressed that a formal appointment pertaining to any future sale had not been made yet. This would be chosen by the coalition government. It is rumoured that a floatation on the London Stock Exchange was Chancellor George Osborne's as well as Royal Mail's preferred option as opposed to an outright private sale.

Market conjecture suggests that a Royal Mail stock listing could take place over the third quarter of 2013 but the group declined to comment on any planned date.

Share:

Recommended Articles

Comments

Royal Mail hires advisers prior to privatisation
Financial Planning

Could CFOs do more to boost shareholder value?

Could CFOs do more to boost shareholder value?

Working capital improvements start to pay off, but more could be donemore ..


Balfour rejects Carillion's "improved" £2bn merger bid

Balfour board says the offer does not address its two main concernsmore ..

Persimmon posts 57% rise in pretax profits

The FTSE100 housebuilder credits Help to Buy with encouraging growthmore ..

Inflation rate eases to 1.6% thanks to generous summer sales

Price drops in clothing and food biggest contributor to fall in inflationmore ..

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *