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MPs to quiz Cable over Royal Mail

BUSINESS Secretary Vince Cable is facing another grilling this week by fellow MPs over the controversial privatisation of Royal Mail.

He has been recalled by the Commons Business Select Committee to give further evidence on the sell-off, with it is claimed shares priced too low. Shares shot up in value shortly after trading began in October. The National Audit Office discovered a number of preferred investors have sold all or some of their stock.

MPs will also quiz Business Minister Michael Fallon, while the Public Accounts Committee will question the Financial Conduct Authority tomorrow and bankers on Wednesday, including UBS and Goldman Sachs, which marketed the shares to the City.

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