Post Office

House of Lords written question – answered at on 25 March 2009.

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Photo of Lord Dykes Lord Dykes Spokesperson for Foreign and Commonwealth Affairs, Spokesperson for Environment, Food and Rural Affairs

To ask Her Majesty's Government whether they would accept foreign shareholdings of the Post Office if the chosen operator were a monopoly or near-monopoly in its home territory.

Photo of Baroness Vadera Baroness Vadera Parliamentary Under-Secretary (Economic Competitiveness and Small Business), Department for Business, Enterprise & Regulatory Reform, Parliamentary Secretary (Economic Competitiveness and Small Business), Cabinet Office

The Post Office will remain entirely owned by Government. The Government will judge the suitability of the potential partner in Royal Mail under the terms of the Bill we have published against a number of criteria, the most important of which are:

the ability to add value to Royal Mail as a whole, including by assisting in the transformation of Royal Mail's letters business and the modernisation of the network; andthe price offered for a minority stake or partnership and the ability to finance the investment.

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