Royal Mail

Department for Business, Innovation and Skills written question – answered on 16th June 2015.

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Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills

To ask the Secretary of State for Business, Innovation and Skills, whether his Department plans to seek and identify priority investors in respect of its sale of the remaining public stake in Royal Mail; and whether he intends to prioritise long-term investors in that sale.

Photo of Anna Soubry Anna Soubry The Minister of State, Department for Business, Innovation and Skills

The accelerated book build process, used in the recent sale, did not involve the concept of priority investors in the same way as a typical Initial Public Offering process would. There was not a need for early engagement by potential investors.

All leading long term investors were invited to bid for shares.

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