Royal Mail shares rise further despite union’s strike threat
Royal Mail shares rose another 2% today, with stock in the privatised 500-year-old postal operator now worth almost £700 million more than taxpayers received in the sell-off.
On their second day of conditional trading before full trading begins tomorrow, another surge in the shares fuelled accusations that the Government undervalued Royal Mail. Ministers capped its share price at 330p, but extraordinary demand for shares saw stock rise to 455p on Friday and they were still in favour today, sending the price up another 9.8p to 464.8p.
That’s 40% higher than the £3.30 price per share the Treasury received for the sale of its 52% stake in Royal Mail. But staff are still pushing ahead with plans for strikes in the run-up to Christmas. The result of a strike ballot by more than 115,000 members of the CWU union will be announced on Wednesday. Union sources are demanding that Royal Mail bosses offer new terms and conditions for staff.
Royal Mail staff cannot sell their shares for three years.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 Free U2 album: How the most generous giveaway in music history turned PR disaster
- 5 Scotland could still declare independence – even without referendum, says Alex Salmond
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Tesco in crisis: UK managing director among four executives suspended after exposure of accounting scandal
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks own nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...