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ceekay
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Quote:
5709 wrote on 26-07-2017 11:47 AM

The government spends a billion every 13 hours.



Was that on the side of a bus?

"Do you believe in the devil? You know, a supreme evil being dedicated to the temptation, corruption, and destruction of man?"
"I'm not sure that man needs the help." (Calvin & Hobbes)

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Old Post26-07-2017 12:40 PM
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Private1

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There was a man in front of me in the queue in tesco's buying condoms.
When the cashier asked if he needed a bag, he said "No, she isn't that ugly"

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Old Post26-07-2017 13:18 PM
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Matt
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Quote:
Quin. wrote on 26-07-2017 12:24 PM

Was that via the failed "preferred bidder" approach who were supposed to be long temr holders or general sale?



After the debacle of the first sale, I think this tranche was offered for sale to institutions and 2% was given to Royal Mail staff.

Just as well, the share value lost £30m overnight, up to £250m today.

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Old Post26-07-2017 13:21 PM
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Matt
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Quote:
5709 wrote on 26-07-2017 12:25 PM

Aye, Osbourne's mate (he was best man at his wedding) negotiated the price, then got the shares.

A right big con.



Ermmm you mean Osborne conned his mate?

Whoever bought these shares lost £30m in 24 hours and their current loss is around £250m.

Do you reckon they are still mates?

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Old Post26-07-2017 13:22 PM
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5709

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Quote:
Matt wrote on 26-07-2017 01:22 PM

Ermmm you mean Osborne conned his mate?

Whoever bought these shares lost £30m in 24 hours and their current loss is around £250m.

Do you reckon they are still mates?



This explains it better than I can.

https://politicalscrapbook.net/2014/04/osborne-best-mans-hedge-fund-made-36m-profit-on-royal-mail/

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Old Post26-07-2017 13:38 PM
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Matt
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Quote:
5709 wrote on 26-07-2017 01:38 PM

This explains it better than I can.

https://politicalscrapbook.net/2014/04/osborne-best-mans-hedge-fund-made-36m-profit-on-royal-mail/



OK, that was the first sale.

Shares were priced at 330p, the article states 546p but they went up to over 600p later. So a massive gain, right?

No. Not unless he sold at the top of the market.

Royal Mail shares are now at 390p, reflecting a value the accountants came up with originally. They knew mail services were reducing year on year and there were some difficult negotiations coming up. On the upside, Royal Mail does own a load of prime properties.

My guess is it was high interest and volumes which pushed the price up, institutions cashed in at the top which drove the price down.

Industrial disputes have driven the price lower, and more recently, a proposed pension deal wiped even more off the price.

Valuing a company is part science and part art. In this case, science won out as the current share price reflects a true value, with the likelihood of further falls as Royal Mail tries to compete with cheap companies who can cherry pick the best areas and services. Don't forget, like BT, Royal Mail has to provide post services to the whole country at a price which is fixed by law.

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Old Post26-07-2017 14:02 PM
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