Related Articles
Mr Kretinsky and International Distribution Services agreed to a deal worth £3.6 billion – or £5.3 billion including debt – in May but had been waiting for approval from the Government, which must sanction the takeover given the national importance of Royal Mail and the postal service in the UK.
Mr Kretinsky – nicknamed the Czech sphinx – has since made several further concessions to gain approval, including giving the Government a “golden share” in the postal service, meaning it will need to approve any key changes to Royal Mail’s ownership, headquarters location and tax residency.
Mr Reynolds hailed the proposed takeover as being beneficial for the UK, Royal Mail workers and customers.
He said: “This would be a good deal for the UK, be a good deal for the people who work for Royal Mail, and, of course, would be a good deal for the customers.”
You can find our cartoonist, Steven Camley, in the Herald Tuesday to Saturday and online at heraldscotland.com and see more here
You can purchase Steven Camley’s cartoons by calling 0191 603 0178 or visiting thepicturedesk.co.uk
