Tag: UK

A Postmasters’ group is attempting to mount a management buyout of the main postal network in a move that would split the Royal Mail group, The Times has learnt. The Postmasternetwork, which claims 7,500 members, this week will meet potential American investors to try to secure up to GBP150 million of funding to buy the 14,500-strong chain of loss- making sub-post offices. The group has held meetings with the Department of Trade and Industry already to press the idea. The organisation has emphasised its interest in running the network, although it would need government support for about two years, as the future of the UK’s postal service is being reviewed.