Royal Mail gears up for £3bn float

The government is set to push ahead with plans to privatise Royal Mail this year in a £3bn float, as profits at the group continue to impress.

The state-owned postal service is understood to be set for a bumper year in terms of profits, and this could pave the way for it to be floated in London at some point this year, according to a report in the Sunday Times. Coalition ministers are understood to be on course to appoint banks to act as book runners by the end of this month, with the share sale valuing the business at £3bn. Some groups have fared well since privatisation and now form an important part of the UK stock market. These include British Gas - now listed under the name BG Group - which was semi-privatised in 198...