Royal Mail gets €3 billion boost

THE British government will inject nearly €3 billion into the Royal Mail service, with the money being partly used to plug a €6 billion gap in the state-owned company's pension fund, according to weekend reports.

The Financial Mail said that British Chancellor Gordon Brown had approved a deal to subscribe for new shares in Royal Mail and will give shares worth between €6,000 and €8,000 to each of its 200,000 workers.