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 said that the workers are concerned that the privatisation would damage the postal service and also lead to poorer terms for the staff members. The workers of the Royal Mail are set to vote on the pay and other issues relating to the privatisation of the service and determine if an industrial action would be taken by the workers.

The CWU also indicated that the vote might result in a strike by 10 October in the UK. This will be first poll on industrial action since 2009.