Alan Johnson says Royal Mail was "under-sold"

[TrueBlueTerrier]

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They joined the FTSE 100 yesterday with a market value of just under six billion pounds.

Hull West and Hessle MP Alan Johnson believes the Royal Mail was under-sold by two to three billion pounds.

They joined the FTSE 100 yesterday with a market value of just under 6 billion, having been worth 3-point-3 billion when it was privatised in October.

Mr Johnson, who's a former Postman and Communication Workers Union Leader, says the Business Secretary got it wrong by selling it so low:

"He was talking about wanting to sell it off to small investors so that people had a share in Royal Mail, it's gone to the big investors- the people who traditionally will buy into this kind of project, it's not gone to the British people."

He says the taxpayer got a poor deal:

"It was sold off at a car boot sale at a cut price, which has done the British taxpayer of about 2 to 3 billion pounds. The fact that it has been under-valued and under-sold, I think just adds to the big mistake that Royal Mail privatisation has been."

[Ahebban]

All very esy for him to criticise now, where was his support when we needed it most in the fight against privatisation.

[UnhappyGremlin]

Typical of the man.

[arnold cheshire]

wasnt it being undersold a good thing for the postie being allocated shares ?

[IcanthelpthewayIam]

wasnt it being undersold a good thing for the postie being allocated shares ?

nope the starting valuation doesnt affect us posties in the slightest as we get the price of the shares at the end of the three years regardless of a low starting price, we were issued a fixed number of shares that were not dependent on the share price, we get the price at the end of the three years when we can sell them, all that information was in the packs sent out to you which i guess you didnt read

[arnold cheshire]

wasnt it being undersold a good thing for the postie being allocated shares ?

nope the starting valuation doesnt affect us posties in the slightest as we get the price of the shares at the end of the three years regardless of a low starting price, we were issued a fixed number of shares that were not dependent on the share price, we get the price at the end of the three years when we can sell them, all that information was in the packs sent out to you which i guess you didnt read

still i dont care about what the government made out of the sale

[arnold cheshire]

wasnt it being undersold a good thing for the postie being allocated shares ?

nope the starting valuation doesnt affect us posties in the slightest as we get the price of the shares at the end of the three years regardless of a low starting price, we were issued a fixed number of shares that were not dependent on the share price, we get the price at the end of the three years when we can sell them, all that information was in the packs sent out to you which i guess you didnt read

as we know it was valued low to look after their rich friends and makes no difference to me

[IcanthelpthewayIam]

wasnt it being undersold a good thing for the postie being allocated shares ?

nope the starting valuation doesnt affect us posties in the slightest as we get the price of the shares at the end of the three years regardless of a low starting price, we were issued a fixed number of shares that were not dependent on the share price, we get the price at the end of the three years when we can sell them, all that information was in the packs sent out to you which i guess you didnt read

as we know it was valued low to look after their rich friends and makes no difference to me

just correcting your misconception that it was a good thing for posties that it was undervalued

[arnold cheshire]

wasnt it being undersold a good thing for the postie being allocated shares ?

nope the starting valuation doesnt affect us posties in the slightest as we get the price of the shares at the end of the three years regardless of a low starting price, we were issued a fixed number of shares that were not dependent on the share price, we get the price at the end of the three years when we can sell them, all that information was in the packs sent out to you which i guess you didnt read

as we know it was valued low to look after their rich friends and makes no difference to me

just correcting your misconception that it was a good thing for posties that it was undervalued

yes

[JaneM]

Suppose it is a sign of the cynical age we live in,that selling off one of the crown jewels for £2 billion less than its worth engenders such little debate and deserved contempt.

[Chelseablue]

This all made us feel part of the party ie share bonanza , god it feels great being involved in it . Oh we've gotta wait 3 years ,oh by that time,,,,,,,,

[ebbzie]

This has been the greatest robbery of all time , makes the great train robbery look like a small time pickpocket. These bas**ards have "made" £3billon in a matter of weeks, with probably more to come and with no comeback

[dav1524]

All very esy for him to criticise now, where was his support when we needed it most in the fight against privatisation.

And where was he when we were last out on strike,he didnt want to know to busy climbing the greasy pole.

[UnhappyGremlin]

All very esy for him to criticise now, where was his support when we needed it most in the fight against privatisation.

And where was he when we were last out on strike,he didnt want to know to busy climbing the greasy pole.

Busy turning his nose brown.