Britain Plans to Privatize Postal Service

The government on Wednesday said it had appointed Goldman Sachs and UBS to manage an initial public offering for the Royal Mail later this year, The New York Times reports.

The sale would be the biggest privatization in the country since the railroads in the 1990s, The New York Times reports. Michael Fallon, the minister for business, said the sale was a “practical, logical and commercial decision.”

“Unless Royal Mail has the capability in the future to access equity markets, every £1 that it borrows is another £1 on the national debt,” he