Miliband: Royal Mail 'undervalued for taxpayers'

It's a fire sale of a great institution at a knock-down price. It has been undervalued for taxpayers and undervalued for customers.

Its a dogmatic privatisation by this government and they have made it even worse by undervaluing it.

The Government are doing it for ideology and it's not in the best interests of this country.

– Labour leader Ed Miliband

Watch: PM says Royal Mail sell-off 'an excellent deal for taxpayers'

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Royal Mail shares close up 38%

Shares in Royal Mail have closed 37.9% up at 455p after a feverish first day of trading on the stock market.