On Friday, Belgium's postal service, Bpost made a robust market debut. This is a good signal for Britain as it eyes to sell Royal Mail.
CVC, a private equity firm has raised Eur812 million. This was from the 28% stake sale that made the company valued at Eur2.9 billion.
Bpost dominates the mail delivery in Belgium. Its shares rose to 2% at Eur14.79 by 6:05 a.m. ET. The stock was valued at Eur14.50. This is the top end of its Eur12.50 to Eur15 range.
Britain is in close watch with the said initial public offering. The state plans to sell its postal group Royal Mail this financial year. This could be Britain's largest privatization to occur in 20 years.
According to a person familiar with the matter, it is very reassuring to see a mail business come with such strong performance. However, different issues are yet to arise, he added. Same source said that Royal Mail is at a different stage while Bpost has undergone restructuring through years.
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