Media playback is unsupported on your device

Royal Mail: Privatisation 'successful', says minister

10 January 2014 Last updated at 09:32 GMT

Three months on from the privatisation of Royal Mail, the minister for business and enterprise Michael Fallon has described it as "a successful sale".

He told the Today programme's Evan Davis that "Nobody's lost anything hereā€¦ we've gained a top 100 company."

The share price is currently 70% higher than its original price of 330p, but Mr Fallon explained that institutions "wouldn't have paid more".

He said that by having a lower original share price he hoped to gain "a secure and stable future" for Royal Mail, by attracting "long-term institutional shareholders".

First broadcast on BBC Radio 4's Today programme on Friday 10 January 2014.

Most watched

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.