The privatisation plan for the UK's postal service, the Royal Mail is expected to be unveiled today in the UK amid much opposition from the workers.

Shadow Business Secretary Chuka Umunna accused the government of holding a fire sale for the mailing service. The ministers are expecting to announce the details of the plans including a flotation of £2 billion-£3billion flotation on the London Stock Exchange. It is also believed that 10 per cent of the shares will be sold to the postal workers. The government will also encourage retial investors to acquire shares in the company.

The Communication Workers Union (CWU) representing the workers at the Royal Mail has decided to take their protest to banks in London against a decision to privatise the mailing service in the UK.

CWU will target the headquarters of UBS, Goldman Sachs and Merrill Lynch during its bus tour in London. The workers will hold protest outside he Business Department, Ofcom and offices of the Conservative and Liberal Democrat parties. They will also deliver a giant postcard opposing privatisation to the Royal Mail.

The Union members at Royal Mail have voted in favour of asking the management to increase the wages above inflation and this might create tough conditions for the privatisation process.