Post strike threat over

A THREATENED postal strike was averted yesterday when Securicor withdrew plans to buy the Royal Mail’s cash-handling business.

The Communication Workers Union had announced that 95 per cent of its 3000 members voted in favour of industrial action in protest at the proposed sale.

But Securicor took back the bid, saying it was aiming to “restructure” arrangements.

Meanwhile, the Royal Mail reported the first signs of financial stability after cutting trading losses by a third.