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

Prime Minister David Cameron hit back at criticism that Royal Mail was undersold by the government after shares soared 38% this morning at the start of conditional trading.

Speaking from Belfast he told ITV News the sell-off was an "excellent deal" for tax-payers.

Read: Union: Royal Mail has been 'flogged on the cheap'

More: Vince Cable says Price of Royal Mail shares 'tells us nothing'

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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.