Royal Mail WILL be allowed to fall into foreign hands, Government confirms

EU competition law means the Government is unable to include a “golden share” in the proposed £3billion sell-off that would block a rival postal service such as Germany’s giant £24billion Deutsche Post swooping in and taking it over.

Critics fear this could result in a repeat of what happened to the UK’s energy and water providers which are now mostly foreign-owned after being should off by the state.

A spokesman from the Department for Business, Innovation and Skills confirmed to Express Online that Royal Mail could one day be run by foreign managers – but added Royal Mail itself also had the chance to buy up other international rivals.

Read more: EXCLUSIVE: Royal Mail WILL be allowed to fall into foreign hands, Government confirms | UK | News | Daily Express.