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Page last updated at 22:12 GMT, Wednesday, 1 July 2009 23:12 UK

'Not right time for postal sale'

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Lord Mandelson has told peers there is no prospect of the partial sell-off of Royal Mail going ahead in the "current circumstances".

The business secretary said the state of the economy had made it impossible to complete a deal on favourable terms.

READ MORE: 'No prospect' of postal sell-off

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