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Britain Plans To Privatize Royal Mail

RENEE MONTAGNE, HOST:

NPR's business news begins with the sale of the Royal Mail.

(SOUNDBITE OF MUSIC)

MONTAGNE: British unveiled plans this morning to sell the majority of its centuries old postal service. It's the largest privatization of a government service the country has seen in decades. The public offering of the world's oldest postal service would take place in the coming weeks.

The Royal Mail traces its roots to a service founded by Henry VIII in 1516. Analysts say it would fetch more than $4 billion. The Department for Business says 10 percent of the shares will be given to the Royal Mail's staff.

STEVE INSKEEP, HOST:

I wonder if they occasionally have one of those news stories about someone finding a $300 or $400 year-old letter that's finally been delivered, dropped behind a desk somewhere. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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