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Royal Mail PLC on Thursday said it is not involved in any ‘secret talks’ with a private equity investment group.
The London-based postal service and courier company denied accusations it said were made by Dave Ward, general secretary of the Communication Workers Union, in interviews that the company is in talks with a private equity group regarding a takeover.
In a statement, Royal Mail responded: ‘The company wishes to make clear that this is not true. We are involved in no such talks.’
The CWU is the main trade union for the telecommunications and postal delivery industries in the UK. Members of the union began strike action against Royal Mail on Thursday, in a worsening dispute over pay and conditions.
A spokesperson for Royal Mail said: ‘The irony is that by taking his members out on strike and refusing to discuss the changes needed to modernise Royal Mail, Dave Ward is increasing the possibly that we will become a takeover target the very thing the CWU is now telling its members to fear.’
Shares in Royal Mail were trading 2.4% lower at 251.30 pence each in London on Thursday midday.
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