Royal Mail needs up to £400m cash injection, says Daniel Kretinsy

The Czech billionaire who would be the owner of Royal Mail has revealed plans for a structural shake-up of the company, which could threaten the jobs of tens of thousands of postal delivery workers and thousands of the company’s signature red pillar boxes.

In a rare public comment, Daniel Kretinsky, whose interests have had a £3.5 billion takeover recommended by the board of Royal Mail parent International Distribution Services (IDS), has revealed he sees the company’s future in the UK in the so-called out-of-home delivery market.

Kretinsky’s bid for the company has also excited speculation that he has a wider plan to merge Royal Mail and/or its European sister business with PostNL, the privatised Dutch postal giant in which he holds a 31 per cent