CVC in Bidding war for stake in Royal Mail

Deutsche Post, along with Dutch TNT and private equity firm CVC Capital Partners, are reported to have begun the last round of bidding for a stake in British state-owned postal company Royal Mail. The price tag for the stake is said to be at least EUR3bn.

The British government wants to partly privatise its postal company in an effort for it to remain commercially viable. British business minister Peter Mandelson said indicative bids were due this month. Firm offers are to be expected in the summer, according to reports.

CVC is no stranger to the postal industry. In February, the private equity firm increased its equity stake in Belgium's De Post-La Poste in a deal valued at EUR373m.

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