Royal Mail Closes Below £4

Tuesday, September 30, 2014

Royal Mail has hit a new low, slipping back under £4 for the first time since its floatation. The UK's mail group floated at 330p and its share price soared in the first few days, leading to questions about whether the company had been under-valued by the government.

In January 2014, the company peaked at 615p, but since then its share price has come under heavy pressure, and on Monday the share price slipped to 398.4p for the first time. The mail group has been under pressure from ever-increasing competition in the UK postal market. Most recently, the company has faced competition from TNT and UK Mail, and the UK government has confirmed that it will soon investigate the postal market in the country.

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