The floatation of Royal Mail is set to begin today as Business minister Michael Fallon looks to complete a move to privatisation for the postal service within 12 months.

Michael Fallon has revealed that the investment banks that will run the floatation of the royal mail will be appointed by the end of May.

Examples of the successful privatsation of mail services have been citied in Germany and Austria to argue for the floatation of the state service, with delivery times being better than the state run competitors.

The move by the government to privatise the service is designed to achieve stability with Mr Fallon saying that new measures were required in order: “to put Royal Mail onto a long-term sustainable basis”.

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