UK regulator says no reason to investigate Royal Mail sell-off

LONDON, April 28 Mon Apr 28, 2014 10:53am EDT

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LONDON, April 28 (Reuters) - Britain's financial regulator said on Monday there was no reason to launch an inquiry into the government's privatisation of postal operator Royal Mail , a sell-off that has drawn criticism that it short-changed the taxpayer.

Last October, Britain sold 60 percent of Royal Mail at 330 pence per share, ending 500 years of state control and raising 2 billion pounds ($3.36 billion) for the public purse.

($1 = 0.5948 British Pounds) (Reporting by Neil Maidment and William James; Editing by Angus MacSwan)