Umunna: Taxpayer 'shortchanged' by Royal Mail sale

The Government is selling Royal Mail short by "pressing ahead" with its current sale, despite selling it at a "huge undervalue", the shadow business secretary said.

Chuka Umunna told Daybreak Royal Mail was valued at "between £2.6-3.3 bn" and endorsed by City brokers.

He warned the sale was becoming "a dream" for City speculators but a nightmare for the taxpayer.

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Royal Mail shares 'undervalued'

There are concerns that Royal Mail has been undervalued as investors rush to buy shares in the company ahead of tomorrow's midnight deadline. Labour said the sale was "a dream" for City speculators but a nightmare for the taxpayer.