Royal Mail staff take up share offer

<p>Most Royal Mail staff have accepted shares in the company.</p>

The vast majority of Royal Mail staff have accepted shares in the firm, which is set to float on the stock market later in the month.

Latest figures show that 99.75 per cent of members of staff at the company have accepted the share offer – expected to be worth about £2,000 – as part of its privatisation.

According to a report by BBC News, only 368 employees at Royal Mail turned down the chance to own shares in the firm.

Members of the public have their last chance to buy shares in the company today (October 8th) before stocks float publicly later in the month.

Those staff members at Royal Mail who did not want shares to be given to them had to fill in a form, as the process was offered on an automatic opt-in basis.

Business secretary Vince Cable recently defended the government's valuation of Royal Mail after shadow business secretary Chuka Umunna accused the coalition of undervaluing the firm.

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