RE: New blog about RMG23 Jan 2022 16:59
Mike, it's just history on repeat, cast your mind back :-
Taxpayer Short-Changed On Royal Mail Sale. MPs said the taxpayer may have lost out by up to £1bn. The MPs said that Mr Cable and his office had been served poorly by its City advisers.
The Government sold 60% of Royal Mail to outside investors last October, including a significant chunk to more than a dozen so-called priority investors who were earmarked as long-term shareholders.
These institutions, some of which sold their stakes within days of the flotation after the shares surged.
Although the shares have retreated from their post-privatisation peak, they were trading on Wednesday at around 474p, roughly 45% higher than the price at which they were sold by the Government.
Shadow business secretary Chuka Umunna said Mr Cable had presided over a "first-class short-changing of the taxpayer".
Here we are almost ten years later and nothing has changed,manipulation and corruption continue.