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'Priority' shareholders raked in millions from Royal Mail sell-off
National Audit Office reveals privileged few snapped up extra shares early
A dozen “priority” shareholders raked in millions of pounds of easy profits within weeks of Royal Mail’s flotation by privatisation-obsessed ministers, official auditors revealed yesterday.
A National Audit Office report into the postal fire-sale showed that 16 “priority” investors thought vital to the stability of the company snapped up their enhanced stake on the cheap before making a packet on rocketing share prices.
Twelve of the “priority shareholders” had sold all or some of their holdings within the first few weeks of trading.
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