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Royal Mail’s instant billions a temptation for Canada Post

It must be an awful temptation for Canada Post. Suddenly the dowdy, old, money-losing Royal Mail is a private company worth a cool $7 billion. Not only is the figure more than anyone expected, it is $2 billion more than it was valued at just yesterday.

The sudden jump in value is a source of some controversy. That’s because the owners of the 500-year-old mail service — that is, the people of the U.K. — only got about five billion.

When the new stock started trading early Friday morning, demand was so strong that shares soared, making the new shareholders very happy indeed.

Read more: Royal Mail’s instant billions a temptation for Canada Post: Don Pittis – CBC News – Latest Canada, World, Entertainment and Business News.