[ad_1] Daniel Kretinsky is on the cusp of becoming the new man in charge of the Royal Mail. The board of its parent company, International Distribution Services (IDS), announced on Wednesday it had agreed to a takeover by Mr Kretinsky’s EP Group, which has valued the firm at £5.3bn. The deal must first be approved…
[ad_1] World News // 9 hours ago To secure U.S. massacre apology, South Korea needs a campaign, State Dept. official says JEJU ISLAND, South Korea, May 29 (UPI) — If South Korea is to achieve an apology from the United States for an early Cold War-era atrocity, it needs to launch an extensive campaign, a…
[ad_1] Open this photo in gallery: A Royal Mail worker loads vans at a delivery office in Tonbridge, Britain, on May 29.Chris J Ratcliffe/Reuters It was established by King Henry VIII to send messages to members of the royal court, and now, for the first time in its 508-year history, Britain’s Royal Mail is on…
[ad_1] The billionaire sometimes known as the Czech Sphinx appears to be on the verge of becoming the first person to buy the Royal Mail in its 500-year history. A sale would mark a milestone in the history of a business that was privatised just over a decade ago but that can trace its history…
[ad_1] EP Group made a number of other legally-binding undertakings to the Government as part of the bid. These include maintaining key services under Royal Mail’s universal service obligation for the next five years, such as the one-price-goes-anywhere system and Saturday deliveries for first class post. Mr Kretinsky has agreed to maintain the Royal Mail…
[ad_1] International Distributions Services plc, the owner of Britain’s 500-year old postal service and courier company Royal Mail, has agreed to a takeover offer by EP Corporate Group, owned by Czech billionaire Daniel Kretinsky. The total deal value is around 3.568 billion pounds on a fully diluted basis, while enterprise value is 5.284 billion pounds…
[ad_1] Daniel Kretinsky’s EP Group have had their offer for Royal Mail accepted by current owners International Distribution Services (IDS). The offer would see EP Group buy IDS for 370p per share, while offering a series of “contractual commitments and intentions” to protect public service aspects of the Royal Mail. IDS said if the deal…
[ad_1] The takeover deal will still need to be approved by International Distribution Services (IDS)’s shareholders at the September annual general meeting. ADVERTISEMENT The owner of Royal Mail confirmed on Wednesday that it had accepted a £3.6 billion ($4.6 billion) takeover offer from the Czech investor, Daniel Křetínský. Under the deal, Křetínský’s EP Group would buy…
[ad_1] The takeover of International Distribution Services (IDS), the parent firm of Royal Mail, was completed this week after the conclusion of discussions that began in April. The IDS board had said it was “minded to” accept a bid at the price agreed on Wednesday, which is 370p per share. Keith Williams, the chairman of IDS,…
[ad_1] Royal Mail will be taken over by a Czech billionaire after it accepted a £3.6bn takeover offer. The board of parent company International Distributions Services (IDS) on Wednesday said it has recommended an offer of 370p per share from Daniel Křetínský. The offer consists of 360p in cash, plus a final dividend of 2p…