Tuesday, 29 April 2014

Royal Mail share price: FCA rejects calls to investigate

Otmane El Rhazi, Tuesday, April 29: Britain’s Financial Conduct Authority (FCA) will not launch a probe into the government’s sale of Royal Mail (LON:RMG), rejecting calls from lawmakers who said that the sharp rise in the postal service firm’s share price should have been investigated.

MPs on the Public Accounts Committee (PAC) yesterday grilled the regulator’s CEO, Martin Wheatley, over the controversial privatisation of Royal Mail which saw its share price rise 38 percent on its first day of trading (Royal Mail’s share price surges 38% on market debut).

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