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Royal Mail to be floated on stock exchange - Cable

10 July 2013 Last updated at 18:54 BST

Royal Mail will be sold through a flotation on the London Stock Exchange, the business secretary has confirmed.

Vince Cable told MPs that employees would be given 10% of shares for free, and the public will be able to buy shares.

Members of the Communication Workers Union, who overwhelmingly oppose the privatisation of the service, have threatened strike action.

John Moylan reports.