How much is the Queen's head worth? Royal Mail sell off should reveal all
To the surprise of no one whatsoever, the government has officially announced that the Royal Mail will be privatised ‘in the coming weeks’, with shares up for grabs to both the public and monied-up investment groups.
Royal Mail employees will be given 10% of the shares with the rest of it thrown into the wind like those red rubber bands that birds can easily choke to death on. If you want to invest, you’ll need to punt up at least £750.
Not surprisingly, the Communication Workers Union is kicking right off about all of this and is going to ballot its members for strike action, which wouldn’t take place before 10 October.
This might explain why the government has said that privatisation will take place ‘in the coming weeks’ – rushing it through will protect the Royal Mail from too much strike-flavoured damage. Classy move.
It remains to be seen how much privatisation will affect the consumer – the six-day-a-week delivery service is enshrined in the law and shouldn’t be affected by the sell-off.