THE investment bank CSFB has been hired by the Department of Trade and Industry to help advise on a Pounds 2billion rights issue at Royal Mail. The details of this cash-raising have now been lodged with the government and will be examined by experts at the investment bank. Part of the proceeds will be used to reduce the postal group’s Pounds 2.5billion pension deficit. The restructuring proposal includes giving 20% of Royal Mail’s equity to its workers.
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