http://www.telegraph.co.uk/news/uknews/ ... llion.html
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| Quote: Adding in the cost of taking over its £8.4 billion pension deficit, it means that the bill to the taxpayer of selling off Royal Mail could be more than £10 billion. The news came as plans to privatise Royal Mail were formally agreed by Parliament. The sale could happen as early as next year. Ed Davy, the postal services minister, confirmed a report in The Daily Telegraph last month that an extra bail-out is needed of Royal Mail. Mr Davy told MPs yesterday said the extra cash was vital to ensure that “the universal service" was protected. He added: “To do this, Royal Mail needs to be on a sustainable commercial footing. The company currently has around £1.7 billion of debt facilities with the Government. | |
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When the government needs every penny this looks like a waste of money. It all depends on how much they get for the Royal Mail.