GOVERNMENT TO HIRE ADVISERS FOR ROYAL MAIL SELL OFF

[donut]

http://blogs.news.sky.com/kleinman" onclick="window.open(this.href);return false;

The Government will next week take another step towards the partial sell-off of Royal Mail when it moves to hire City advisers to help steer it through the prospective year-long process.

I’ve learned that investment bankers will participate in a beauty parade convened by the Department for Business, Innovation and Skills and the Shareholder Executive, which manages state-owned assets. An appointment is expected shortly afterwards.

Barclays Capital has already been appointed to advise Royal Mail’s board on the privatisation process, which could see almost half the company sold to a private sector buyer. New legislation will be required to enable another postal operator or a private equity investor acquire a chunk of Royal Mail. Ministers have indicated that a stock market flotation has also not been ruled out.

The mandate to advise the Government will focus on the resolution of Royal Mail’s vast pensions black hole and the associated state aid issues which require discussion with European regulators. Any deal to partly privatise Royal Mail is likely to involve the Government standing behind the company’s historic pension liabilities.

As I revealed last month, the company’s pension deficit has been valued at around £10.25bn. Royal Mail’s pension trustees are now in the final stages of agreeing an announcement about a new long-term funding settlement with the Pensions Regulator.

It all represents a breathless introduction to the company for Moya Greene, Royal Mail’s new chief executive, who joined a week ago.

[Dogs of War]

Why don't they just hurry up and totally wreck this job and service.

[viking]

I thought the job had already been given to MOYA GREENE!

[pinstripe]

Heck, I'll do it.
Pay me £5m in cash to an offshore account please and I'll tell them to sell it to TNT for a quid!
See, that's business, that is.

[DirtyHarry]

The future's bleak, the future's private sector, another major British asset in foreign hands, makes you proud, don't it?

[smokerjim]

Heck, I'll do it.
Pay me £5m in cash to an offshore account please and I'll tell them to sell it to TNT for a quid!
See, that's business, that is.

They won't hire you as an advisor, consultant, ignorant twat or whatever job title they have, not even for 2 bob & a cup of tea, and all cos you have some intelligence and some experience, and not a money grabbing at all costs parasite - you're over-qualified on 2 counts, and grossly under-qualified on the last count.