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 …
Read More »Royal Mail at risk of being broken up after £3.6bn foreign takeover
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 …
Read More »Czech Billionaire To Own Britain’s 500-year Old Postal Service Royal Mail
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 …
Read More »Royal Mail: £3.5bn bid from Czech billionaire accepted
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 …
Read More »Royal Mail owner paves way for historic takeover by Czech billionaire
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 …
Read More »Who owns Royal Mail? International Distribution Services takeover confirmed
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, …
Read More »Czech billionaire Daniel Křetínský confirms £3.6bn Royal Mail takeover
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 …
Read More »Royal Mail agrees to £3.57bn takeover by Czech billionaire Daniel Křetínský; BHP abandons £39bn pursuit of Anglo American – business live | Business
Introduction: Royal Mail agrees £3.5bn takeover Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. It’s deadline day in the City today, with suitors for two UK-listed companies – mining giant BHP Billiton and Royal Mail – given until 5pm today to …
Read More »Royal Mail owner IDS agrees Kretinsky’s £3.6bn takeover bid
Kretinsky’s EP Group promises to preserve service levels and UK headquarters By Jane Denton Updated: 03:36 EDT, 29 May 2024 Royal Mail owner International Distribution Services has agreed terms for a £3.57billion takeover by Czech billionaire Daniel Kretinsky’s EP Group. Kretinsky said he had the ‘utmost respect’ for the history and …
Read More »What went wrong for Royal Mail? How cuts to delivery days, second-class post and closed collection offices left Britain missing critical hospital appointments, without birthday cards and Christmas gifts – and what the £3.57bn Czech takeover means for YOU
Royal Mail’s latest £3.57 billion takeover bid by Czech billionaire Daniel Kretinsky’s EP Group comes against a backdrop of a £300 million operating loss, cuts to delivery days and missed targets. Royal Mail owner International Distribution Services has said it has agreed to an offer which would see EP Group …
Read More »