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THE privatisation of the Royal Mail will formally begin this morning, it emerged last night.

Ministers will give the green light to sell off a majority stake in the world’s oldest postal service – a move even Margaret Thatcher refused to sanction when she was prime minister.

The move would bring the Government up to £3billion but the unions responded angrily, calling the plan a “reckless gamble”.

Publication of an Intention to Float notice could be sent to the London Stock Exchange today.

The announcement will start a sale process lasting four to six weeks.

It should also make clear if any shares will be held back until later and how many will be given to the Royal Mail’s 150,000 staff.

They have been promised a 10 per cent stake, worth £2000 each if the company is valued at £3billion.

But the main postal union, the CWU, have vowed to press on with a strike ballot on pay and job ­security.

Voting starts later this month and if members vote for action, walk-outs could begin by the middle of next month.

The CWU are holding a meeting of local officials today, which is due to be addressed by Royal Mail chief executive Moya Greene.

The Government declared their intention to go ahead with ­privatisation in July.

Earlier this week, the plan was denounced to the TUC Congress in Bournemouth by general secretary Frances O’Grady.

She said: “We will fight this senseless, stupid sell-off of the family silver. Hands off our Royal Mail.”

Business Secretary Vince Cable briefed the Cabinet on the plans on Tuesday. The sell-off means the Con-Dem Coalition are fulfilling a goal coveted by governments for the last three decades.

Thatcher and John Major refused to sell Royal Mail and although Peter Mandelson looked at it while in power with Labour, no serious plan was put forward because of the opposition of MPs.

The sale of the Royal Mail will be the biggest privatisation since Major sold off the railways in the 1990s.

Last night, the National Federation of SubPostmasters called on the Government to safeguard the future of thousands of post offices by halting the sale.

General secretary George Thomson said: “I am extremely disappointed and concerned that the Government is pressing ahead with a plan that will undoubtedly jeopardise the future of thousands of post offices.

“We have not had the promised work that needs to be ­delivered before the sale of Royal Mail and which would safeguard the future survival of an independent Post Office.

“We are now calling on the Government to halt the sale until we can be sure that new work is ­forthcoming.

“We are also urging ministers to retain a share in Royal Mail to ensure government has the ability to protect the interests of post offices and their customers, which are already under serious threat.

“Failure to do so will amount to a reckless gamble and risk thousands of post office closures that will rip the heart out of communities across the country.”

The Government have said the sale is necessary to help Royal Mail to grow and remain competitive.

Officials at the Royal Mail and the Department for Business refused to comment last night.