The union that represents workers at Royal Mail has called for a new business model for the company that would see workers given a stake in the company and pay tied to growing services and meeting certain social benefits. Dave Ward, the general secretary of the Communications Workers Union (CWU), …
Read More »Hunt Pledges to Safeguard Key Royal Mail Services Amid £3.6bn Takeover
Chancellor Jeremy Hunt has urged regulators to rigorously scrutinise Daniel Kretinsky’s proposed £3.6 billion takeover of Royal Mail, amidst concerns about a potential break-up of the iconic postal service. Hunt emphasised the importance of extending the safeguards currently promised by Kretinsky beyond their initial periods. Speaking to LBC, Hunt highlighted …
Read More »The business empire of the Czech billionaire who is set to take over Britain’s Royal Mail firm
Czech billionaire Daniel Kretinsky pressed on with his buying spree this week as EP Group, one of his investment vehicles, finalised a deal to take private the owner of Royal Mail in Britain. Kretinsky, 47, a former investment bank lawyer who built one of Europe’s largest energy groups, Energeticky a …
Read More »Czech Billionaire Plans £400m Overhaul for Royal Mail, Sparking Job Concerns
Daniel Kretinsky, the Czech billionaire poised to take over Royal Mail, has unveiled a transformative vision for the company, which includes a £400 million investment to establish a network of dropboxes and delivery lockers across the UK. This move could significantly impact tens of thousands of postal delivery jobs and …
Read More »Who is Daniel Kretinsky, the Czech billionaire trying to buy Royal Mail? | Evening Standard
The board of Royal Mail's parent company has accepted a £3.57 billion offer to buy the group from Czech billionaire Daniel Kretinsky. If the deal goes … Source link
Read More »Royal Mail safeguards can be extended after takeover if needed , Hunt says
About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He …
Read More »It’s not over, warns union leader
The General Secretary of the Communication Workers Union has said the government should be stepping in and making demands about the future of Royal Mail. Dave Ward said it was wrong that the board members could potentially make a lot of money out of the sale of Royal Mail to …
Read More »Royal Mail’s owner said it had accepted a cash offer from the Czech billionaire Daniel Křetínský for the struggling postal service.
The West Ham director made a formal submission of £3.57bn to International Distribution Services (IDS), which implies an enterprise value of around £5.3bn. This is an improvement on an earlier £3.1bn offer that IDS said significantly undervalued Royal Mail. If the deal is approved it means Křetínský’s EP Group would …
Read More »Linklaters advises on £2.85bn financing for recommended offer for IDS plc (Royal Mail) | Deal | About Us
Linklaters has advised BNP Paribas, Citibank, Societe Generale and UniCredit as mandated lead arrangers and bookrunners on the £2.85bn financing for the recommended cash offer by strategic investor EP Corporate Group, a.s. for International Distributions Services plc (IDS), valuing IDS’s share capital at c.£3.5bn and implying an enterprise value of …
Read More »Thursday newspaper round-up: Sony Music, Royal Mail, house prices
A leading City lobby group is calling on the next government to bring in scams legislation that forces big tech and social media companies to cough up to £40m a year to reimburse customers and fight fraud on their platforms. The demand came in a ‘financial services manifesto’ released by …
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