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 …
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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 …
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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 …
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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 …
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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 …
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STORY: The British government approved a multi-billion dollar takeover of the country’s iconic postal service Royal Mail on Monday (Dec 16). EP Group – owned by Czech billionaire Daniel Kretinsky – has bid $4.5 billion for International Distribution Services – or IDS – which is Royal Mail’s parent. IDS agreed …
Read More »The UK government has waved through the historic takeover of Royal Mail’s owner by the Czech billionaire Daniel Křetínský. Here is what you need to know about the businessman and the takeover. Who is Křetínský? Křetínský, the son of a computing professor and a senior judge, studied political science and …
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London CNN — Royal Mail, which dates back to the reign of Henry VIII in the 1500s, is set to be sold to a Czech billionaire in a deal that will keep the institution based in Britain. Daniel Křetínský’s EP Group has made “legally binding commitments” to the UK government …
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