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Royal Mail sell-off unveiled

Business Secretary Vince Cable is announcing the flotation of Royal Mail which will mean people will be able to buy shares in the company. Members of the Communication Workers Union overwhelmingly oppose the scheme.

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Royal Mail sale will allow it to be 'great British company'

Plans to privatise the Royal Mail will allow it to become a "great British company", business minister Michael Fallon has predicted.

Details of the scheme, which will see around 150,000 workers handed shares worth millions of pounds, are expected to be revealed today.

Business minister Michael Fallon. Credit: Press Association.

Mr Fallon said it was time to give staff a "real stake in the business" and insisted the part-privatisation of the Royal Mail would not jeopardise the six-day-a-week universal service protected in law.

He told BBC Radio 4's Today programme the time was right to push ahead with the plan: "It is increasingly being run as a commercial business, it has modernised thanks to the efforts of management and indeed the workforce.

"It's been turned round in the last two or three years and it's ready now to take its place as one of the great British companies."

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