Nov 18, 2021
Royal Mail delivers Covid bonus for shareholders
Royal Mail said it would return an extra £400m to shareholders after the pandemic-induced boom in ecommerce transformed the fortunes of the UK postal group. Royal Mail reported £315m of pre-tax profits for the six months to late September, up from a profit of just £17m in the same period last year. Private equity group Carlyle and Metro Bank have ended talks about a possible takeover of the challenger bank, two weeks after the discussions were first disclosed. A third suitor has emerged for the group, which had struck a deal to sell itself to Australian gaming group Aristocrat last month. The acquisition would expand the growing sports empire of Fenway Sports Group, which is helmed by commodities trading billionaire John Henry but also counts basketball star LeBron James and private investment group RedBird Capital as investors.
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