Royal Mail suitor to spend £800m and take on Amazon

In addition, EP Group is in talks with union bosses about a profit-sharing scheme that would see employees handed bonuses if the company meets key financial and delivery targets.

The Czech billionaire’s debt-fuelled swoop has also sparked concerns about soaring interest payments that could hurt the postal service’s bottom line. 

The Telegraph revealed this month that the company could be left with additional interest payments of up to £170m as a result of the £2.9bn of fresh loans being used to finance the deal.

Ratings agency S&P has said it is minded to downgrade IDS’s credit rating as a result of the transaction in a move likely to further push up its cost of borrowing.

However, it is understood that Mr Kretinsky plans to ask S&P to link the company’s credit rating to EP Group, which will guarantee financial support if required. EP Group may also pay off some of the £750m bridging loan and issue new bonds instead.

Ultimately, Mr Kretinsky will require government approval for the takeover. In its manifesto, the Labour Party said it would “robustly scrutinise” the deal. The takeover is also subject to shareholder approval.

The non-executive members of IDS’s board, who include chairman Keith Williams and non-executive director Baroness Hogg, will step down once the deal is completed.

Chief executive Martin Seidenberg is understood to have the backing of Mr Kretinsky, however it is not yet clear whether he will stay on in his role.