Nationwide buy royal mail shares direct

Tuesday 22 October A hedge fund known for its aggressive investment strategy has become the largest private shareholder in Royal Mail , re-igniting anger over Vince Cable's controversial privatisation of the postal service.

The Children's Investment Fund owns a 5. TCI is controlled by publicity-shy Chris Hohn, who pressed for the sale of ABN Amro, which ended in the Dutch bank's disastrous takeover by the Royal Bank of Scotland, and has been dubbed a "locust" in Germany for its investment style.

TCI revealed that it owns Seifert retaliated by branding TCI partners and its US equivalents "locusts". The bulk of the controversial hedge fund's stake in Royal Mail is likely to have been bought on the stock market rather than directly from the government, but it may still raise hackles among trade unionists who recently voted for a nationwide hour strike next month.

It has also reignited criticism from Labour that Royal Mail was sold on the cheap. Ian Murray, the shadow minister for trade and investment, argued that small investors had been failed by the government's "fire sale". Cable told a committee of MPs earlier this month the government was in "a position to ensure that we do get the right kind of investor community".

A spokesman at the business department referred to these comments and said the government was not disappointed with a hedge fund owner, adding: Hedge funds have been among the city institutions and retail investors scrambling for a slice of Royal Mail, in part because they believe modernisation of the postal service could happen faster than planned.

David Buik, a market commentator at Panmure Gordon, described Hohn as an extremely shrewd businessman.

I suspect he thinks it is undervalued — I suspect he has bought his stake in it for that reason. In recent months it has been buying into companies with corporate governance concerns, such as Japan Tobacco and Rupert Murdoch's News Corp in the wake of the phone hacking scandal. Since News Corp was split, TCI now owns a stake in Twentieth Century Fox.

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MPs summon bankers to explain their valuations of Royal Mail. Royal Mail sell-off advisers allocated millions of shares. Investment bank gave valuation before flotation, as unions accuse government of 'conspiracy against taxpayer'.

Relevant investment banker should be summoned by MPs to explain why flotation was massively underpriced. The Guardian back to top.