Who sold royal mail
Royal Mail, the United Kingdom's postal service, was privatized in 2013. Prior to its privatization, Royal Mail was a publicly owned company, with the UK government holding a majority stake.
In October 2012, the UK government announced plans to privatize Royal Mail, with a flotation on the London Stock Exchange expected to raise around £3 billion. The privatization process was completed on October 11, 2013, when Royal Mail shares were listed on the London Stock Exchange.
The privatization was carried out through an initial public offering (IPO) of shares, which was managed by Deutsche Bank, Goldman Sachs, and UBS. The IPO was oversubscribed, with demand for shares exceeding the available supply.
As a result of the privatization, the UK government sold a majority stake in Royal Mail to institutional investors, including:
- The Qatar Investment Authority (QIA), which acquired a 15% stake in Royal Mail.
- The Canadian Pension Plan Investment Board (CPPIB), which acquired a 5% stake.
- The Ontario Teachers' Pension Plan Board (OTPP), which acquired a 4% stake.
- Other institutional investors, including pension funds, sovereign wealth funds, and investment companies.
The UK government retained a 30% stake in Royal Mail, which was later reduced to 12.4% in 2015. The remaining shares are held by individual investors and institutional investors.
It's worth noting that the privatization of Royal Mail was not without controversy. Some critics argued that the sale would lead to job losses, reduced services, and increased prices for consumers. However, Royal Mail's management has maintained that the privatization has allowed the company to invest in new technology and services, and to improve its competitiveness in the market.