Chuka Umunna – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, what (a) discussions and (b) correspondence has taken place between (i) his Department, (ii) Royal Mail, (iii) banks acting as bookrunners, co-ordinators and lead managers and (iv) priority investors since the privatisation of Royal Mail took place; and if he will publish any such relevant correspondence.

Michael Fallon

Since the Initial Public Offering, my Department has had discussions with Royal Mail in our continuing role as a minority shareholder in Royal Mail.

There has been ad hoc contact with the Global Co-ordinators primarily to help with enquiries about the IPO but no formal correspondence.

It is not appropriate to publish correspondence relating to the above on the grounds that it relates to our shareholding or has been provided to help develop Government policy and to do so would inhibit the free and frank advice or exchange of views for the purposes of internal deliberation.

This Department has not had discussions or corresponded with the priority investors.