Royal Mail strikes loom as privatisation confirmed

The government has confirmed that Royal Mail, one of the UK's longest running national services, will be privatised.

The service has already undergone upheaval with job losses and price rises in recent years.

Royal mail employees will be given a 10% stake while the public will have the opportunity to buy shares for a minimum of £750.

The announcement has been met with fierce opposition from some quarters with the Communication Workers Union planning for strike action.

John Moylan reports.