Vince Cable said MPs criticising the Government over the privatisation of Royal Mail have "the benefit of hindsight".
The Business Secretary said: "We sold at a price that was regarded as the best that could be achieved in the context in which we sold it."
"The point we have stressed ... is the price of shares is very, very volatile. These things go up and down."
"I think the wisdom of hindsight about price doesn't really help us very much."
More top news
Americans celebrated 239 years of independence yesterday. Here are some of the best pictures.
England beat Germany 1-0 after extra-time to finish third in the Women's World Cup.
The youngest royal will make her second public appearance later this afternoon when she is baptised in Norfolk.