UK government puts Royal Mail stake sale plans on hold

According to the report, Lord Mandelson told peers that there was “no prospect” of going ahead with the sale at the moment.

The bill to allow the sale of 30 per cent of Royal Mail has already been through the House of Lords, but was opposed by over 140 Labour MPs. Lord Mandelson reportedly said that part-privatisation was vital for Royal Mail to be modernised, but that now is not the time.

“Market conditions have made it impossible to find a partner on terms that would make it value for money to the taxpayer,” he told the House of Lords, adding that the issue would be revived when market conditions change.

In June it was reported that London-based private equity firm CVC Capital Partners was in the lead to take the 30 per cent stake in Royal Mail.

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