29 Sep '13, 6pm

Singapore Fund Swoops For Royal Mail Stake

Singapore Fund Swoops For Royal Mail Stake

A Singaporean state-backed fund is poised to become a significant shareholder in Royal Mail amid strong overseas demand for the postal operator's shares. Sky News has learnt that the Government Investment Corporation (GIC) of Singapore has placed an order as part of the £3bn privatisation of Royal Mail, further details of which were announced last week. GIC is one of several sovereign wealth funds which have expressed an interest in buying shares in the initial public offering, according to people close to the deal. Their appetite for the stock effectively means Royal Mail will swap the ownership of some of its shares by one government for others. Royal Mail is expected to be valued at between £2.6bn and £3.3bn as ministers race to privatise the company ahead of potential strike action by staff. The company's flotation will include an eventual distribution of 10% of Royal ...

Full article: http://news.sky.com/story/1148013/singapore-fund-swoops-f...

Tweets

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Armed Forces Day At Ibrox| Royal Navy

royalnavy.mod.uk 30 Sep '13, 8am

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royalnavy.mod.uk 30 Sep '13, 4pm

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Royal Brunei Airlines Dreamliner To Fly To Sing...

superadrianme.com 28 Sep '13, 1am

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£400m fund to boost engineering student numbers...

newelectronics.co.uk 30 Sep '13, 1pm

Universities and Science Minister David Willetts said: "Investing in national infrastructure is a key part of this Governm...