News story

Department for Business response to European Commission state aid decision

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

“We will now put into action - through secondary legislation - our pension solution, taking on the historic liabilities and the bulk of the …

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“We will now put into action - through secondary legislation - our pension solution, taking on the historic liabilities and the bulk of the assets of the Royal Mail Pension Plan and establishing the new Royal Mail Statutory Pension Scheme.

“Today’s decision does not mean that a sale of Royal Mail will happen overnight. We have always been clear that further modernisation by the company and a period of stability under a new regulatory framework, along with state aid approval, are needed before we can move forward with a sale. However, this decision is a fundamental step towards achieving that goal”

Notes to editors:

BIS’s online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom for more information.

Notes to Editors

Contact Information

Name BIS Press Office Job Title

Division COI Phone

Fax

Mobile

Email NDS.BIS@coi.gsi.gov.uk

Name Josh Coe Job Title

Division Department for Business, Innovation and Skills Phone 020 7215 5943 Fax

Mobile

Email Josh.Coe@bis.gsi.gov.uk

Published 21 March 2012