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Post Office

Volume 709: debated on Wednesday 25 March 2009

Question

Asked by

To ask Her Majesty's Government whether they would accept foreign shareholdings of the Post Office if the chosen operator were a monopoly or near-monopoly in its home territory. [HL2065]

The Post Office will remain entirely owned by Government. The Government will judge the suitability of the potential partner in Royal Mail under the terms of the Bill we have published against a number of criteria, the most important of which are:

the ability to add value to Royal Mail as a whole, including by assisting in the transformation of Royal Mail's letters business and the modernisation of the network; and

the price offered for a minority stake or partnership and the ability to finance the investment.