Business

Post workers' shares priority

POSTAL workers will have the chance to apply for priority shares on top of free shares as part of the privatisation of the Royal Mail, the British government has announced. Ministers have said that 10 per cent of shares will be given to postal employees free of charge under the sell-off proposals. The coalition said it wanted Royal Mail workers to have the chance to buy extra shares through an employee priority offer. Business minister Michael Fallon said: "Postmen and women are vital to the future success of Royal Mail, which is why 10 per cent of shares will be allocated to eligible employees and we have decided that those shares will be given to them for free." The Communication Workers Union is campaigning against the controversial sell-off, warning of a ballot for strikes before the end of September unless a deal can be agreed on pay, pensions and other issues linked to privatisation.