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The Parcel Post service of Royal Mail was started in 1883, [6] though parcel services operated by the railway companies, later Red Star Parcels and British Road Services, were also heavily used for many decades. Royal Mail was split into three divisions in 1986 [6] and in August 1990, Royal Mail Parcels was rebranded as Parcelforce.
Following the IPO, 52.2% of Royal Mail had been sold to investors, with 10% given to employees for free. Due to the high demand for shares, an additional 7.8% was sold via an over-allotment arrangement on 8 November 2013. This left the government with a 30% stake in Royal Mail and £1.98bn raised from the sale of shares. [23]
The Royal Mail runs, alongside its stamped mail services, another sector of post called business mail. The large majority of Royal Mail's business mail service is for PPI or franked mail, where the sender prints their own 'stamp'. For PPI mail, this involves either a simple rubber stamp and an ink pad, or a printed label.
Mailsort was a five-digit address-coding scheme used by the Royal Mail (the UK's postal service) and its business customers for the automatic direction of mail until 2012. [1] Mail users who could present mail sorted by Mailsort code and in quantities of 4,000 upwards (1,000 upwards for large letters and packets) received a discounted postal rate.
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In the United States in November 2012, the purchase price was $2.20 [6] USD; however, the US Postal Service discontinued sales of IRCs on 27 January 2013 due to declining demand. [7] Britain's Royal Mail also stopped selling IRCs on 31 December 2011, citing minimal sales and claiming that the average post office sold less than one IRC per year.
“Royal Mail is losing £1 million a day. We operate in a competitive market, and our customers have choices. Continued strike action will force our customers to make those choices sooner rather ...
The Communication Workers Union said the walkout on Friday by around 115,000 of its members is the biggest strike of the year.