Royal Mail: Shares House of Lords

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Lord Myners (Labour)

To ask Her Majesty’s Government whether they will be voting their shares in Royal Mail at the forthcoming Annual General Meeting.


Viscount Younger of Leckie (Conservative)

Royal Mail's Annual general Meeting (AGM) will normally be held in July each year.

The Government has a retained shareholding in Royal Mail, it has a vote at the AGM and will decide how to exercise that vote.

As set out in the Royal Mail Prospectus, the Secretary of State has confirmed to Royal Mail that he intends to manage HM Government’s shareholding in the company in a commercial manner within the context of protecting and creating value for the taxpayer as shareholder.

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Gemma Doyle (Shadow Minister (Defence); West Dunbartonshire, Labour)

Royal Mail shares are currently trading at 587 pence, almost 80% higher than when the Government sold off their share. Does the Prime Minister still honestly believe that his Government properly valued Royal Mail and that the price was set to secure the best deal for the taxpayer?



David Cameron (The Prime Minister; Witney, Conservative)

The Government did a good job to get private sector capital into Royal Mail. Frankly, that is something that has evaded Governments of all

colours and all persuasions for decades. I well remember sitting on the Opposition Benches and hearing about the appalling losses in Royal Mail—tens and hundreds of millions of pounds. The fact that it is now well managed, well run and, with private sector capital in, it is a great development for our country.

[barbario]

Well run and managed.He is having a laugh.

[Lincox]

Anything that has a good bottom line as far as the Tory Right Wing is concerned is well managed. How that bottom line is achieved to them is totally insignificant. There friends, buddies, best men at their weddings, have all taken a nice little earner out of the sell off. The fact that the service and cost to the public is now a shadow of what it used to be, and the working conditions/employee relations have nosedived will mean that this company has a very rocky future, because a business model cannot be sustained unless all stakeholders buy into it. But as already said, the elite have already withdrawn their stake and what happens to this company now is of no importance to them as they look for the next wallet filler.