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Page last updated at 10:55 GMT, Sunday, 8 March 2009

Mandelson 'frank' on Royal Mail

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Lord Mandelson has described Royal Mail's situation as "very serious", saying previous government efforts to help the business "frankly have not succeeded".

He told Andrew Marr the organisation desperately needed modernisation, and the government's plans were "a much better deal... than anything any alternative government would offer."

SEE ALSO

Taxpayer will 'get something back'(03.00)
Tebbit: Royal Mail shouldn't be privatised(05.25)

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