The part-privatisation of Royal Mail was formally put on hold on Wednesday by Peter Mandelson, UK business secretary, who said there was “no prospect” of the contentious sale going ahead at present. The retreat from legislation opposed by more than 140 Labour MPs solves a political headache for the government but opposition MPs warned of the impact on the postal operator’s pension fund. The bill to allow the sale of a 30% stake in Royal Mail would also enable a bailout of Royal Mail’s pension scheme.

This entry was posted by Gwen Robinson on Thursday, July 2nd, 2009 at 4:50 and is filed under Capital markets. Tagged with Royal Mail. Edit this entry.