I see bankers at Bank of America Merrill Lynch were involved in helping the British government place some of its stake in the Royal Mail last night, raising around £750 million for taxpayers.
Funny that because I'm sure equity research boffins round Bank of America Merrill Lynch published an upbeat note the postal service operator just a few days ago, upgrading the stock to "overweight" and raising its target price from £5.00 to £6.00.
What a coincidence!
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