Bosses from six banks will appear before the Business Select Committee in Parliament today as controversy over the Royal Mail sale continues. Unions claim the taxpayer has lost hundreds of millions of pounds due to an undervaluation.
Goldman Sachs and UBS were the investment banks that ran Royal Mail's flotation last month, while JP Morgan, Citibank and Deutsche Bank missed out on running the share sale, while broker Panmure Gordon attacked what it said was the undervaluation of Royal Mail.
The share price was set at 330p, valuing Royal Mail at £3.3 billion, but the shares jumped by over a third on the first day of trading, and broke through the 500p mark within a week.
The share price yesterday stood at more than 550p.
The CWU said this means the Government undervalued the company by more than £2 billion.
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.