Another step towards the Royal Mail going Private

Exclusive: Govt Eyes £24bn Royal Mail Overhaul

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Mark Kleinman

November 15, 2011 9:58 AM

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The body which manages hundreds of billions of pounds-worth of
state-owned assets is plotting an overhaul of £24bn of assets held by
Royal Mail's pension scheme.
I've learned that the Shareholder
Executive has appointed an investment consultancy called Inalytics to
advise it on how to liquidate billions of pounds of assets held by the
fund as the Government moves towards the privatisation of Royal Mail.
My
understanding is that many of the assets (in asset classes such as
public and private equities, real estate and others) held by Royal
Mail's pension fund will be sold over time if the Government receives
approval from Brussels to assume the postal operator's multi-billion
pound historic pension deficit.
The appointment of an advisory
firm to help ministers do this will form an important element of Royal
Mail's financial restructuring.
Of course, there will be pressure
on ministers to ensure that the timing and valuation of any liquidation
process delivers good value for British taxpayers.
Vince Cable,
the Business Secretary, wants to secure private sector investment in
Royal Mail to help secure a viable commercial future for a company
operating in an industry whose revenue base is declining at an
accelerated rate.
That said, there's no guarantee that the
Government will receive offers which value Royal Mail sufficiently
highly to justify selling a controlling stake in the company.
Royal Mail and the Shareholder Executive declined to comment.

They will sell the royal mail to a European country and Import workers from that country for a measly wage and make all the posties here....redundant.


You can see it coming before it gets here.


They have done that on many or most off the building works that go on for a few years.


I know because my friend has gone out off business and he has been in the building business for over30 years and what they do on sites is buy second hand concrete lorries, bring in migrants, put them up in prefabricated blocks which they live In for free with a subsidised canteen....bricklayers too and any manual labour that has to be done to build these roads etc.


What happens to these migrants after the works is finished, I don't know.

Have the workers got CCS cards or CIS cards, bet they haven't yet if YOU want to work on these sites you have to have one which cost over £100 or if you are on the dole, you have to do a 3 month course which includes MATHS and ENGLISH!!

Morning Kitti,

I watched Newsnight last night with David Milliband and the Employment Minister and an audience of unemployed youngsters, including
University Graduates and those with no qualifications at all. The Presenter was .....I can"t for the life of me remember his name, he"s very outspoken.!!!! Anyway, none of them had an answer , if there had been a phone number to ring I would have phoned in suggesting with
all the bone fide tradesmen out of work, set up workshops in unoccupied buildings to teach youngsters a trade so we don"t have to import
foreign labour. Make it a huge fine for anyone employing illegals, get Dept. of Employment Officials to check out building sites , farms etc.