‘Banks ‘conned’ ministers into setting the Royal Mail share price too low – causing the taxpayer to lose out on millions, MPs were told yesterday.
They threatened to ‘walk away’ from the sale if the shares were sold for more than £3.30, MPs were told yesterday.
As a result, they have made a fortune by purchasing the shares – which are now worth £5.65 each, an increase of more than 70 per cent.
Meanwhile the government has been accused of ripping off the taxpayer by selling the company far too cheaply.’
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