It's a Royal Mail rumble Unions' threat to £3bn flotation

[TrueBlueTerrier]

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THE Government is set to push ahead with the stock market flotation of Royal Mail, risking a showdown with unions and a no-show from City investors.

Business Minister Michael Fallon is expected to unveil details of the biggest privatisation in decades tomorrow or on Thursday.

But some City big players privately admit they would find it impossible to invest until a major battle with unions is resolved.

The Communication Workers Union has rejected a pay deal and is threatening strike action. City pension funds — which the Government would expect to back the float — fear that a strike would either de-rail it or damage profits and share values.

That might mean the Government’s banking advisers have to sell the company on the cheap.

Royal Mail could be worth up to £3billion if it gets to float successfully.

But the Government might have to accept closer to £2billion unless talks with unions succeed. One major investor said: “From our point of view, what is the hurry?

“We like the business. But the only people who think it is vital to sell it before the election are Government ministers.”

Royal Mail’s 150,000 staff have been offered a deal worth 8.6 per cent over three years, but with a string of conditions attached.

The CWU says members want an above-inflation pay rise with no strings.

The union is touring London this week on a bus, taking its campaign to GOLDMAN SACHS and UBS — the banks advising the Government on the flotation.

A CWU spokesman said: “We are hearing that investors are getting cold feet. They don’t like the idea of industrial unrest.

“A lot of voices are saying that privatisation isn’t the right thing and it isn’t the right time.”

Royal Mail declined to comment.

[Ahebban]

the sparring is over .. let's see Dave Ward and HQ lead from the front taking CWU members with them, headlong into a battle for the Royal Mail we know and need to preserve!

[Godric]

the sparring is over .. let's see Dave Ward and HQ lead from the front taking CWU members with them, headlong into a battle for the Royal Mail we know and need to preserve!

I can't really afford to go out on strike if I am being honest ... spent to much money of late .... but I will never walk through a picket line ... I will be at the front of said picket line as I have always done .... everybody out !!

[mandelsons_toenail]

It's time everyone


Grew some balls

[scoobydo79]

"I cant really afford to go out on strike......"

Uh Uh. This is the big one for us all. You cant afford NOT to go on strike!!!!!

[UnhappyGremlin]

"I cant really afford to go out on strike......"

Uh Uh. This is the big one for us all. You cant afford NOT to go on strike!!!!!

Whatever 'gains' anyone gets from not striking, will be wiped out at the earliest chance after privatisation, to the point where people will likely have to work very long hours within RM, or take a second job, just to survive.

[Godric]

"I cant really afford to go out on strike......"

Uh Uh. This is the big one for us all. You cant afford NOT to go on strike!!!!!

read the rest of my post please

[scoobydo79]

Sorry Godric. I hear those words and a red mist comes down on Me lol

[egor110]

So we go on strike and what's the plan what do we hope to gain?

Scare off investors, guarantee pay and conditions for 5 years rather than the proposed 3?

I've worked for this company for 23 years and been out as required every strike , but this time i feel we are going to be floated if we strike or not.

Bt the railways etc all striked and they were all floated it made no difference.

Secondly do we really want billy and dave negotiating after the last deal they got which resulted in us the workers paid less and having bigger deliveries. Great job.

[TrueBlueTerrier]

Sadly I am hearing a lot of the same thoughts in our DO and we at worst have been 99% solid during the 00's strikes.

If the CWU don't act decisively and soon, they are going to lose the groundswell that came from the Consultation.

[egor110]

Sadly I am hearing a lot of the same thoughts in our DO and we at worst have been 99% solid during the 00's strikes.

If the CWU don't act decisively and soon, they are going to lose the groundswell that came from the Consultation.

Exactly , this is what billy and dave need to be sorting out not poncing around London in a bus, when there interviewed they sound out of there league.

If there not careful there going to be calling for strike action then realising that the union have lost big percentage of it's members without them even realising.