Has royal mail been sold

Royal Mail, the UK's postal service, was privatized in 2013, but it's not exactly "sold" in the classical sense. Here's what happened:

In 2012, the UK government announced plans to privatize Royal Mail, which had been a publicly owned organization since its inception in 1516. The decision was made to float the company on the stock market, allowing the public to buy shares in Royal Mail.

On October 11, 2013, Royal Mail's initial public offering (IPO) took place, and the company was listed on the London Stock Exchange (LSE) and the New York Stock Exchange (NYSE). The IPO raised £2.7 billion (approximately $4.5 billion USD) for the UK government, which sold a 60% stake in the company.

The remaining 40% stake in Royal Mail was retained by the UK government, with the option to sell more shares in the future. However, the government has not sold any additional shares since the IPO.

Today, Royal Mail is a publicly traded company, listed on the LSE and the NYSE under the ticker symbol RMG. The company is still subject to some regulatory oversight, as it is required to maintain a universal postal service, which means it must provide a certain level of service to all customers, regardless of their location or income.

So, to summarize, Royal Mail was not "sold" in the classical sense, but rather privatized through an IPO, allowing the public to buy shares in the company. The UK government still retains a minority stake in the company.