Dave Ward, deputy secretary of the Communication Workers Union, said the continued inflation of Royal Mail shares show the 500-year-old institution was sold on the cheap, with the taxpayer losing "over a £1 billion" to the "government's city mates."
Ahead of the result of tomorrow's ballot for strike action, he said:
"The Royal Mail share price has soared further today, bringing more proof that the company was undervalued by the Government's City mates.
"The taxpayer has lost over £1 billion already in this bungled fire sale of a cherished national institution. Postal workers cannot trade their shares for three years and they are far more concerned about their jobs than the share price."
Shares in Royal Mail soared again this morning as trading started making them almost 50% more valuable than the government's price tag.
Within five minutes of Royal Mail being officially listed on the London Stock Exchange over a million shares had been traded.