Britain Set to Privatize Royal Mail

Take note, America

Britain is privatizing its Royal Mail postal service through a public stock offering within the next nine months.

The step is expected as the British government has been giving the Royal Mail a big overhaul in preparation for going public, including paying its whopping $6.9-billion pension fund deficit and bolstering its profit.

So far, so good. Revenue from parcel deliveries was up 13% in the last fiscal year, thanks to the growing popularity of online shopping. Overall profit climbed to $600.5 million, from $226.5 million in the previous year.

Comments

[Aresen]

Well, Philip is getting rather shopworn.

OOPS, I thought you said Royal Male.

[Greg83]

That's encouraging. I doubt FedEx/UPS or anyone else would want to buy USPS though. I'd just rather see it dissolved and the government monopoly on first class mail ended.