chess pieces © Ffang
© Ffang

Newton’s third law perfectly applies to Royal Mail (RMG) and private equity – the more RMG falls, testing new record lows almost daily in the past 10 weeks, the higher its appeal for opportunistic financiers backed by private equity capital and large borrowings.

They say

Apart from unfunded liabilities considerations, its net financial debt position is negligible. Playing the capital arbitrage card – more debt, less equity – is a pretty obvious option with RMG, as some company insiders put it before the ...

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