US and Canada eye Royal Mail stakes after privatisation

Multi-billion dollar American and Canadian pension funds are being lined up to take stakes in Royal Mail when it is privatised, possibly as early as the autumn.

Moya Greene, Royal Mail’s chief executive, revealed that she has given a roadshow presentation to the Ontario Teachers’ Pension Plan as part of the preparation for the £3bn IPO, the biggest privatisation in 20 years. The fund already has £4bn invested in the UK, including stakes in the Channel Tunnel rail link, Birmingham and Bristol airports and ownership of the lottery operator, Camelot.

patriot1721: The UK is being systematically destroyed and sold off. Anything British- our culture, our identity- is being diluted, to ease our assimilation into the new country, the EU. Meanwhile,  anything that has a monetary value is being put up for sale, ending up in foreign hands, allowing the goverment to wash it's hands of any responsibility.We continue to elect governments that simply have no love for the country.

TheBoggart: How much more damage can this government of twats cause before they are unceremoniously dumped by the electorate?

dacorum: This is another reason not to vote Conservative or Labour or Lib Dem. The Royal Mail is PROFITABLE!!!  Why sell of a valuable public asset that makes a profit?  And why sell it off and give the profits to big business whilst the taxpayer is saddled with the pension deficit?

sircomespect: Its all about short term gain for shorter term profligacy.

mrkipling: It's called asset stripping or tax farming or just plain old robbery. Doesn't seem to be many defending the decision. Privatizations seem to have run there course as an economic alternative that appeals to the public

Hooflungdung: The Boggart has a good point below;  Cameron could have offered the Royal Mail to the British public in a special share sale.  After all it is ours to start with! I do not want my mail being handled by a foreign outfit who are only interested in profit.  Just look at the appalling service and errors made by the private mail companies in London already.

davdos:  'Ms Greene denied claims that Royal Mail was profiteering from the steep rise in the price of stamps or that the privatisation would lead to increased prices,' It is my personal opinion, which may be wrong, that she is lying through her teeth.

TheBoggart:  When you have a monopoly, and there's no one there to protect the consumer, there are limitless possibilities for juicy profit.

$1245247: This lot would sell their granny if there was a profit in it.

mrs_trellis: They have to sell everything they can since their / our current debt is over £1 TRILLION and rising at a rate of £120 BILLION+ a year. If we had any sunny islands, we'd be selling them off too, just like the Greeks are having to do. Bottom line: the UK is bust.

armchairnavigator: selling off the royal mail wont do diddly to the national debt. governments need to fess up and admit they are all bust.

whitehart: They are only copying their Icon Thatcher!

lavinia1649: Or eat her, if there wasn't

imposter: Bloody government selling the family silver and lining the pockets of the yanks - Dickheads the whole lot of them

lavinia1649: Shameful

Freeas Abird: Barking. The UK Taxpayer shoulders the Royal Mail pension liabilities and the UK Government sells off the profitable operation to Foreign Pension funds to support pensioners overseas. You couldn't make it up…

dacorum: Freeas Abird You shouldn't be able to make it up but it is true!  And what makes it worse is that nobody in government, politics or business is saying that we are all being conned by this sell out of the Royal Mail.

armchairnavigator: i can only see one solution. we as a nation must boycot royalmail until it makes such a big loss that any potential investors will drop it like a hot potato. anyone using the royal mail, now they know its being sold off, is tacitly supporting its sale and choosing to fund its pension obligations.

englander:  "…we as a nation must boycot royalmail …" The snag with such a boycott is that more post offices will end up closed and the universal service will end up in the hands of one of the private competitors.  As the private competitors currently re-send post they don't want to deliver via the Royal Mail, who knows what sort of service they will provide when they are the only option.

exumab: Of course! That's the whole idea of Privatization. Any nation that can't maintain it's own mail service, NHS and Transportation system is quite simply "Fu--ed! The country isn't run by a government, it's run by foreign investors. Investors who don't even bother to pay their taxes. What "Was" Great Britain is now just a colony of other nations with a mock government comprised of political "Rent Boys". It's outrageously over dependent on outside special interests, the US dictates it's military involvements, the EU is in charge of it's internal affairs. End OF!

Tanneradozen: But they claimed Margaret Thatcher was so great and gave her a State Funeral. Britain is the finest nation in the G-8 with the worse scum of professional politicians destroying it and not leading it in the best interest of British voters.

Tanneradozen: Moya Greene the CEO of the Royal Mail for the past 3-4 years was recruited from Canada Post where she was the  CEO for approx. 6 years. She is a Canadian and her Resume also includes being CEO of CN Railways where she axed and chopped and privatized to hearts content.Ask why is she no longer the CEO of Canada Post and ask why did the Tory regime recruit her from Canada to help sell of the Royal Mail. Que theme song from "Jaws" followed by Darth Vader entrance music.

Hooflungdung: Absolute folly.  No private company will be prepared to continue daily rural postal service. Yet another item on the long list of stupid mistakes for which Cameron will be remembered.

Tanneradozen: I wasn`t aware this crumbling dysfunctional Coalition has a mandate from he British public to sell this more than  2oo year old British Institution?Sell off one of the 5 Royal palaces if Britains so hard up but leave us the service of mail delivered to all Britain not just profitable corridors. It is one of the few Institutions  still holding Britain together.

Supermac24: The Tories, Blairs Tories and now this shower of a coalition have betrayed our country totally. Everything we had of any value is given away to their pals, the word sold doesn't come into it. It is no good sneering at Russia where the oligarchs stole billions from their country. Our "leaders" taught the oligarches how to do it. It is called privatisation. No doubt Kissinger and Co from the Bilderberger group will tell Osborne and Cameron to get on with the last robberies of the British people.