Mr Kretinsky and International Distribution Services agreed to a deal worth £3.6 billion – or £5.3 billion including debt – in May but had been waiting for approval from the Government, which must sanction the takeover given the national importance of Royal Mail and the postal service in the UK. …

At least 70 people within the Post Office and Royal Mail knew of errors with the Horizon IT system, according to its manufacturer on the final day of the public inquiry. Hundreds of sub-postmasters were wrongly prosecuted on the basis of accounting errors produced by the faulty Horizon system. The …

At least 70 people within the Post Office and Royal Mail knew of errors with the Horizon IT system, according to its manufacturer on the final day … Source link

The approval follows a thorough review, addressing concerns about Royal Mail's strategic importance to the UK government. As part of the deal, the … Source link

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The 500-year-old postal service is set to be snapped up in a £3.6bn deal  By SAM BARKER Updated: 12:14 EST, 16 December 2024 Royal Mail is set to be taken over by Czech billionaire Daniel Kretinsky – leaving households wondering what the deal means for them. Royal Mail is currently …

The £5.3bn deal had been agreed in May but was subject to a government review under national security laws as Royal Mail is considered vital … Source link

Two general elections ago, Labour was promising to renationalise Royal Mail. Now, in office, it is happy to see the ancient institution fall to a leveraged takeover bid from a private equity-style company that will have the power to set the price of a first-class stamp from Prague. The decision …

According to the Sunday Times Rich List, the 49-year-old is now worth £6bn – up £2bn on 2023. He has adopted low-profile approach to his business dealings, but what we do know about Mr Křetínský is that he made a large part of his money in Central and Eastern European …

With the government finally approving his purchase of the Royal Mail, Daniel Kretínsky – the so-called “Czech Sphinx” – has landed his white whale. The billionaire investor agreed a deal to buy International Distribution Services (IDS) – the name of the holding company – back in May. However, the process …