By Daniel Hunter

Royal Mail is set to be privatised in the 'coming weeks', according to the government who have given prior warning to the stock exchange.

It has not decided exactly how much of the service it will sell, but has said it will be the majority.

Employees will be given 10% of the shares, with the rest being offered to institutional investors and members of the public.

The minimum amount members of the public can apply for will be £750.

Free shares will be given to 150,000 UK-based Royal Mail employees, who will be able to apply for additional shares under an employee priority offer, with a minimum application of £500.

The Communication Workers Union opposes the float and is about to ballot its members for strike action.

The government says it will decide how much of the Royal Mail to sell depending on market conditions and how much demand there is for the shares.

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