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Banks hired to lead £2.5bn Royal Mail IPO

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Ministers have appointed Barclays and Goldman Sachs to lead the expected £2.5bn flotation of the Royal Mail this autumn. 

According to Sky News , the bankers will receive a fraction of their usual fees in exchange for winning the mandate to work on the IPO. 

Goldman Sachs and UBS will take the lead on the deal with Barclays and Bank of America Merrill Lynch adopting junior roles, says the Sky News report. 

In April 2012, a report in The Sunday Times suggested the sell-off would see 130,000 Royal Mail workers receive around £2,000 in shares each on average as part of the IPO. 

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