Osborne's best man's hedge fund made £36 million profit on Royal Mail

Tommy Monk wrote:Plus let's not forget that labour got the legislation for the sale passing the House of Lords too!!!!!!


Funny that they would do that if they never really wanted to sell it!!!!!!




You jokers!

Tommy Monk wrote:

Tommy Monk wrote:
Come off it!
What selective memories you lefties have!
Do you really think a guardian link is proof of anything?
The sell off by labour was planned as far back as 2000 when they brought in the postal services act 2000, created 50,000 or So shares and changed the name to Consignia, this was all done to facilitate the sale!
"...The recommendations in the Hooper Review led Business Secretary Lord Mandelson to seek to part privatise the company by selling a minority stake to a commercial partner. However despite legislation for the sale passing the House of Lords, it was abandoned in the House of Commons after strong opposition from backbench Labour MPs. The government later cited the difficult economic conditions for the reason behind the retreat..."
http://en.wikipedia.org/wiki/Royal_Mail
And....
"...The year 2001 was an annus horribilis for the UK’s postal service. In January, the business became a laughing stock when it announced a change of name from the Post Office, which had served it well since 1635, to Consignia. To consign, it said, meant “to entrust to the care of”. The name was pilloried.
The business was heading into a financial crisis that threatened to consume it. When results for the year to March 2002 were published, they showed losses before tax had soared to £1.1bn. At the same time, the Department for Trade and Industry hit upon the idea of trying to sell the company to the Dutch postal service, TPG. Talks went on secretly for months, during which time Patricia Hewitt succeeded Stephen Byers as trade and industry secretary in Tony Blair’s Labour government.
Allan Leighton, who had joined the board in April (later to become chairman), said the talks were “shambolic because none of the numbers were right . . . So I said there’s no way this transaction would ever happen”. The government finally came to the same conclusion.
Lord Mandelson
Labour’s most serious effort to part-privatise Royal Mail occurred under Peter Mandelson, who had joined Gordon Brown’s government as business secretary. He tried to legislate to sell a 30 per cent stake, based on an independent review by Richard Hooper, which recommended that an outside investor, preferably with postal expertise, be brought in.
Lord Mandelson was forced to shelve the effort in July 2009. He blamed adverse market conditions, but he also faced a mass revolt by Labour backbenchers in the Commons, influenced by the Communication Workers Union, which was deeply opposed to privatisation.
An auction of potential bidders was conducted at the same time, but in the end only CVC Capital Partners, a London-based private equity group, was in the frame, with a bid that fell short of what ministers were seeking. TNT, the Dutch postal business, lost interest as it focused on its own restructuring, and Germany’s Deutsche Post withdrew..."
http://www.ft.com/cms/s/0/4af1e6d8-1bb8-11e3-b678-00144feab7de.html
Know your history!

Just for clarity.

Tommy Monk wrote:

Tommy Monk wrote:

Tommy Monk wrote:
Come off it!
What selective memories you lefties have!
Do you really think a guardian link is proof of anything?
The sell off by labour was planned as far back as 2000 when they brought in the postal services act 2000, created 50,000 or So shares and changed the name to Consignia, this was all done to facilitate the sale!
"...The recommendations in the Hooper Review led Business Secretary Lord Mandelson to seek to part privatise the company by selling a minority stake to a commercial partner. However despite legislation for the sale passing the House of Lords, it was abandoned in the House of Commons after strong opposition from backbench Labour MPs. The government later cited the difficult economic conditions for the reason behind the retreat..."
http://en.wikipedia.org/wiki/Royal_Mail
And....
"...The year 2001 was an annus horribilis for the UK’s postal service. In January, the business became a laughing stock when it announced a change of name from the Post Office, which had served it well since 1635, to Consignia. To consign, it said, meant “to entrust to the care of”. The name was pilloried.
The business was heading into a financial crisis that threatened to consume it. When results for the year to March 2002 were published, they showed losses before tax had soared to £1.1bn. At the same time, the Department for Trade and Industry hit upon the idea of trying to sell the company to the Dutch postal service, TPG. Talks went on secretly for months, during which time Patricia Hewitt succeeded Stephen Byers as trade and industry secretary in Tony Blair’s Labour government.
Allan Leighton, who had joined the board in April (later to become chairman), said the talks were “shambolic because none of the numbers were right . . . So I said there’s no way this transaction would ever happen”. The government finally came to the same conclusion.
Lord Mandelson
Labour’s most serious effort to part-privatise Royal Mail occurred under Peter Mandelson, who had joined Gordon Brown’s government as business secretary. He tried to legislate to sell a 30 per cent stake, based on an independent review by Richard Hooper, which recommended that an outside investor, preferably with postal expertise, be brought in.
Lord Mandelson was forced to shelve the effort in July 2009. He blamed adverse market conditions, but he also faced a mass revolt by Labour backbenchers in the Commons, influenced by the Communication Workers Union, which was deeply opposed to privatisation.
An auction of potential bidders was conducted at the same time, but in the end only CVC Capital Partners, a London-based private equity group, was in the frame, with a bid that fell short of what ministers were seeking. TNT, the Dutch postal business, lost interest as it focused on its own restructuring, and Germany’s Deutsche Post withdrew..."
http://www.ft.com/cms/s/0/4af1e6d8-1bb8-11e3-b678-00144feab7de.html
Know your history!

Just for clarity.

Maybe you should try reading this......


And I said that labour would have probably tried to sell it again given the chance.



Are you still trying to deny that labour planned to sell royal mail going back years???As I said????? And proved!!!!


Stop being a twat now please, you are embarrassing yourself and I'm getting bored with your idiocy.





Your continued denials show that you need psychiatric help!

Tommy Monk wrote:Unbelievable!

I have provided irrefutable evidence that labour had planned to sell royal mail as far back as 2000 but you still keep going with your bullshit!



This is like me saying that water is wet and you saying it isn't.....!



Give it up now son, man up and know your history!

Sassy wrote:What irrefutable evidence?   Come on, I mean it, what share price, what legislation, when was it proposed by the government, etc etc.   It was discussed, the majority of the Labour Party didn't like it, it was dropped.

Joy Division wrote:His posts are always finished in typical RW style...

No answer and not-very-good -smugness!! 

But he isn't too abusive , I'll give him that!..nice one Matty!