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Royal Mail shares priced at 330p, government announces

10 October 2013 Last updated at 23:21 BST

Royal Mail shares are to be priced at 330p, the government has announced.

It also said the 93,000 members of the public who submitted a valid application for £750 worth of shares will receive the full amount.

Those who applied for shares worth more than £10,000 will not receive any.

Robert Peston reports.

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