UK to sell Royal Mail stake, targets 1.5 billion pounds

By William James LONDON (Reuters) - Britain will sell its 30 percent stake in postal operator Royal Mail, currently worth about 1.5 billion pounds, as it renews its drive to wipe out the budget deficit, Chancellor George Osborne said on Thursday. The sale was announced alongside a further 3 billion pounds of debt-reduction measures as Osborne said he was redoubling his efforts to fix the public finances after his Conservative party's surprise election win in May. "It is the right thing