Royal Mail fast-track gamble could cost the Treasury £1bn

royalmailMinisters took a £1 billion gamble on outflanking striking trade unionists with the announcement of a fast-track privatisation of the Royal Mail by the middle of October. The stock market flotation, which could net postal workers free shares worth as much as £2,200 each, initially looks set to be a success as City bookmakers reported support in the pre-trading “grey market”. However, the prospectus for the sale, published yesterday, listed an unnervingly long list of risks to Royal Mail’s business, which, if they cast a cloud over the float, could see the Treasury’s proceeds come in £1 billion lower.

Read more: Royal Mail fast-track gamble could cost the Treasury £1bn | The Times.