Royal Mail

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 …

For the first time in five centuries, the Royal Mail is out of British hands after ministers approved its sale to Daniel Křetínský, known as the “Czech Sphinx”. While the £5.3bn deal was struck in May, the final agreement only came on Monday after Křetínský’s EP Group gave fresh commitments …

Daniel Kretinsky’s bid for Royal Mail passed a major milestone on Monday with the government’s approval, albeit reliant on a string of commitments, for the £3.6 billion deal. Having faced a review under national security laws, the green light for the deal marked a key step for Kretinsky’s EP Group …

Britain’s centuries-old Royal Mail is set to pass into foreign ownership after the UK government approved the takeover of its parent company by Czech billionaire Daniel Kretinsky’s EP Group on Monday. The takeover of International Distribution Services (IDS) by EP Group is worth £3.6 billion ($4.5 billion). The “deal protects …

Business Secretary reaches agreement with Royal Mail’s prospective new owners after in latest example of government working hand in hand with private sector to improve crucial public services.    Agreement backs Government’s Plan for Change, creating the strong foundations needed in Britian’s supply chain to kickstart economic growth and deliver for …

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Under the new deal, workers will get a 10% share of any dividends paid out to Kretinsky. Other concessions include the formation of a workers group to meet monthly with the directors of Royal Mail, no raid on the pension surplus, and no compulsory redundancies until the end of next …