The British government will lay out plans to privatise the Royal Mail in a £3 billion sterling share offering that will see tens of thousands of workers get a stake in the company.
UK Business minister Michael Fallon told the BBC today that the staff will receive 10% of the new company -- giving them a "real stake in the business."
The Communications Workers Union is opposed to the privatisation amid fears that it will lead to job losses and lower wage increases. There are worries that it may also bring an end to six-day-a-week mail delivery.
Mr Fallon said the privatisation would give the Royal Mail greater freedom to compete with others - in part because it would gain the right to borrow without consulting the government.
