UK markets closed
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • FTSE 250

    17,972.69
    -359.00 (-1.96%)
     
  • AIM

    833.59
    -13.83 (-1.63%)
     
  • GBP/EUR

    1.1189
    -0.0251 (-2.19%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.54%)
     
  • BTC-GBP

    17,584.22
    -121.67 (-0.69%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • DOW

    29,590.41
    -486.27 (-1.62%)
     
  • CRUDE OIL

    79.43
    -4.06 (-4.86%)
     
  • GOLD FUTURES

    1,651.70
    -29.40 (-1.75%)
     
  • NIKKEI 225

    27,153.83
    -159.30 (-0.58%)
     
  • HANG SENG

    17,933.27
    -214.68 (-1.18%)
     
  • DAX

    12,284.19
    -247.44 (-1.97%)
     
  • CAC 40

    5,783.41
    -135.09 (-2.28%)
     

Royal Mail denies talks over potential sale

·1-min read
FILE PHOTO: A Royal Mail postal van is parked outside homes in Maybury near Woking in southern England

(Reuters) -Britain's Royal Mail said on Thursday it was not involved in talks with a private-equity firm over a potential sale of the postal group amid clash with its largest labour union over pay.

"We are aware that in recent media interviews, Dave Ward, the General Secretary of the CWU has indicated that we are in 'secret talks' with a private equity investment group, he believes, regarding a takeover of Royal Mail," it said in a statement.

"The Company wishes to make clear that this is not true. We are involved in no such talks," Royal Mail added.

The Communication and Workers Union (CWU) did not immediately respond to a request for comment.

Royal Mail's top shareholder Vesa Equity had in July informed the British government that it was planning to increase its stake in the 500-year-old firm to more than 25% from the 22% it currently owns.

The proposal by Vesa, ultimately controlled by Czech billionaire Daniel Kretinsky, is being reviewed by Britain, which is using its new powers under the National Security and Investment Act.

Meanwhile, Royal Mail is locked in a bitter dispute with the CWU, whose postal members have held strikes and plan to hold more this month as the two sides have been unable to agree over pay and working conditions.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva)