Approves privatization of Royal Mail

Following agreement by both Houses, the Bill on privatization of the British Royal Mail Group (Royal Mail) received Royal Assent on 13 June 2011 and came into force on 1 October 2011. The coalition Government aims to begin the privatization of Royal Mail by selling or floating at least part of it in autumn 2013 if the State-owned postal operator’s finances continue to improve. A flotation is likely to involve a sale of shares to the public as well as institutions.

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Services (Other service activities)

• Sources:

  • Department for Business, Innovation & Skills, Postal Services Act 2011, http://www.bis.gov.uk/policies/business-sectors/postal-services/postal-services-acts/postal-services-act-2011, 13 Jun 2011
  • Financial Times, Royal Mail looks to deliver IPO next year; Most ambitious privatisation since rail, 26 Mar 2012