Riddle of the sphinx’s move on Royal Mail | Business

Daniel Kretinsky was unusually effusive when he made his first UK investment. The Czech energy billionaire snapped up a coal-fired plant in 2014 that was, he said, a reflection of his “genuine interest in the UK market”.

Less than four years later, however, Eggborough power station in North Yorkshire closed. Kretinsky’s bold bet had not factored in ministers’ eagerness to reduce Britain’s dependence on coal power.

Despite the setback, Kretinsky has returned to making contrarian bets on UK assets — and set the City rumour mill running — with his investment in Royal Mail.

Kretinsky, 45, dubbed the “Czech sphinx” for his aversion to speaking publicly, has built a 12.1% stake in the FTSE 250 company in recent months, sparking speculation that he may call