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| Version 0 | Version 1 |
|---|---|
| Royal Mail privatisation 'in the coming weeks' | Royal Mail privatisation 'in the coming weeks' |
| (34 minutes later) | |
| The government has given formal notice to the stock exchange that it plans to privatise the Royal Mail "in the coming weeks". | The government has given formal notice to the stock exchange that it plans to privatise the Royal Mail "in the coming weeks". |
| It has not decided exactly how much of the service it will sell, but has said it will be the majority. | It has not decided exactly how much of the service it will sell, but has said it will be the majority. |
| Employees will be given 10% of the shares, with the rest being offered to institutional investors and members of the public. | Employees will be given 10% of the shares, with the rest being offered to institutional investors and members of the public. |
| The minimum amount members of the public can apply for will be £750. | The minimum amount members of the public can apply for will be £750. |
| Free shares will be given to 150,000 UK-based Royal Mail employees, who will be able to apply for additional shares under an employee priority offer, with a minimum application of £500. | |
| The Communication Workers Union opposes the float and is about to ballot its members for strike action. | The Communication Workers Union opposes the float and is about to ballot its members for strike action. |
| The government says it will decide how much of the Royal Mail to sell depending on market conditions and how much demand there is for the shares. | |
| More information is available at www.gov.uk/royalmailshares which is also where online applications will be once the offer opens. | |
| Private investors will also be able to apply for shares by post or through stockbrokers. | |
| Royal Mail has announced that "in the absence of unforeseen circumstances" it will pay a dividend of £133m in July 2014. | |
| As part of the privatisation, Royal Mail will take on £600m of loans from banks, with another £800m available if necessary. This will replace the loans it currently has from the government. | |
| The Post Office was separated from Royal Mail in 2012 and is not for sale. |