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Britain to sell Royal Mail

A woman passes the Royal Mail's Bethnal Green sorting office in east London.

Britain to Sell Royal Mail

Britain embarked on its largest privatization in

decades on Thursday as the government unveiled plans to sell the

majority of the near 500-year-old state-owned Royal Mail postal service.

The Department for Business said a stock market flotation would take

place in coming weeks, giving the public a chance to buy into the postal

network. Ten percent of the shares will be given to Royal Mail staff.

Reporting by REUTERS.