According to the latest reports, the privatisation process for the Royal Mail will begin on Thursday morning as the government looks to attract private investors to the mailing service.

Business Secretary Vince Cable had announced the government's plans to privatise the postal service through a stock issue. 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 retail 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. The CWU has said that workers will vote over various issues including future pay, and other aspects of the proposed sell-off of the Royal Mail. Ballot papers are due to go out on 20 September to 125,000 Royal Mail workers.

The government maintains that the privatisation is to allow the mailing service to gain access to private capital that is required to grow and remain competitive in the UK.