Royal Mail shares soared in value by more than £1.1 billion yesterday as Con-Dem ministers flogged off the once proud state institution to private vultures on the cheap.

The government offered shares at 330p each at the start of the day - but they were going for 455p at close of play.

That meant an immediate return of more than £280 for the private speculators who scooped up £750 worth of shares in a government raffle.