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Scandal hit banks are set to share an estimated £30m in fees from the sale of Royal Mail

Scandal hit banks are set to share an estimated £30m in fees from the sale of Royal Mail, say Labour.UBS and Barclays will advise the Government on the £3bn sell off – expected to take place by the end of the year.They were fined nearly £1.3bn for attempting to fix global borrowing rates in the Libor rigging scandal last year.US banks Goldman Sachs and Merrill Lynch will also help with the controversial sale of the state owned postal service.

Read more: Royal Mail privatisation: Banks set to share estimated £30m in fees – Mirror Online.