PRESS RELEASE : Government to take no further action under the National Security and Investment Act (2021) on Royal Mail share acquisition [October 2022]

The press release issued by the Department for Business, Energy and Industrial Strategy on 31 October 2022.

The government has today (Monday 31 October) decided to take no further action under its national security powers on the proposed increase in shareholdings by Vesa Equity Investment in Royal Mail.

The proposed acquisition of increased shareholdings in Royal Mail by Vesa Equity Investment was called in for a full national security assessment by the previous Business Secretary on 25 August 2022.

The government has powers under the National Security and Investment Act (2021) to scrutinise and, if necessary, intervene in qualifying acquisitions on national security grounds.

Following careful consideration, the government will take no further action on the acquisition of increased shareholdings by Vesa Equity Investment in Royal Mail and a Final Notification has been issued to parties.

The government will not hesitate to act to prevent risks to the UK’s national security where we judge action is necessary.  Under the National Security and Investment Act (2021) acquisitions are assessed on a case-by-case basis, so any future acquisition could be subject to a separate assessment under the Act if deemed necessary.