£591m for final Royal Mail stake

THE Government has sold its final stake in the Royal Mail for just over £591million.

A total of 13 per cent was sold at a price of 455 pence per share, with the Government’s final one per cent holding gifted to eligible UK employees, raising their stake in the company to 12%.

The price is notably lower than the 500p per share achieved in the most recent sale over the summer, when a 15% stake raised £750m for the Government.

In total, it has raised £3.3billion from the sale.