Kemi Badenoch last night warned the Royal Mail she will not allow it to be sold to a foreign buyer unless there are guarantees over the protection of vital services. Amid mounting fears over what the proposed £3.5 billion takeover by a Czech billionaire will mean, the Business Secretary held …
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Royal Mail is set to fall into foreign hands for the first time in its 508-year history, writes Jessica Clark. In a move that sent shockwaves through London City and Westminster, the board of its parent company backed a £3.5bn takeover offer from a billionaire dubbed the ‘Czech Sphinx’. Yet …
Read More »Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Czech billionaire Daniel Křetínský’s move to buy Royal Mail has received a tacit stamp of approval. Keith Williams, chair of owner IDS, said the board was “minded to recommend” a …
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Our regular look at the FTSE 350 and a selection of other companies reporting from 20 – 24 May. NVIDIA pointing to further strong growth in first quarter. Marks & Spencer’s continued turnaround success expected. Interest rate cuts should ease headwinds at British Land National Grid hoping to deliver electrifying …
Read More »Royal Mail’s owner International Distribution Services (IDS) is “minded” to agree a takeover by shareholder Daniel Kretinsky, after the Czech billionaire put forward a bid worth about £3.5 billion. Ms Badenoch met IDS bosses for talks on the proposed sale and underlined the need to protect services for the vulnerable, …
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Last May, Daniel Kretinsky gave a rare interview. Known as “the Czech Sphinx”, the enigmatic, low-profile billionaire “makes it clear”, says the newspaper, “that he will not be bidding for Royal Mail, where his Vesa investment vehicle owns more than 25 per cent, or Sainsbury’s, where it has 10 per …
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By Alex Brummer for the Daily Mail Updated: 17:03 EDT, 16 May 2024 As keepers of the flame of free market capitalism, one can understand Government’s reluctance to become involved in takeovers. The notion that the £3.5billion offer by Czech sphinx Daniel Kretinsky ‘is ultimately a matter for the current …
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Ms Badenoch emphasised the importance of Royal Mail in British society – Anadolu Kemi Badenoch is to meet the Czech billionaire plotting a £3.5bn takeover of Royal Mail as she seeks assurances over the sale of a key British asset to a foreign investor. The Business Secretary will call a …
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The public can now have their say on a proposed development that would reinvigorate a “landmark” pub that dates back to the 1880s. A public notification period is now underway for the heritage-listed hotel after a development application was submitted to Noosa Council last year. The refurbishment would see the …
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Credit: shutterstock/iMac_71 Czech billionaire Daniel Křetínský appears ready to provide national security commitments to ensure his company’s proposed takeover of Royal Mail and its international parcels division goes through ahead of significant expected regulatory scrutiny. Subscribe to Global Competition Review Register for limited access Register to receive our newsletter and …
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