[ad_1] Former Royal Mail boss Rico Back has thrown his weight behind Daniel Křetínský’s bid to take over the business, claiming the troubled postal giant “cannot go on like it did”. Mr Back, who was chief executive of Royal Mail from 2018 to 2020, told The Telegraph that the deal would be good for Britain….
[ad_1] Mr Kretinsky, who is already the largest shareholder in Royal Mail through his company EP Group, has pledged not to split the group’s lucrative parcels business, GLS, from its struggling letters business. Under terms set out in his offer, this undertaking would be valid for three years after the deal has completed. The tycoon…
[ad_1] 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 maintain the Royal Mail…
[ad_1] 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 final dividend of 2p…
[ad_1] Royal Mail is poised to accept a £3.5bn takeover offer from Czech billionaire Daniel Kretinsky, paving the way for the postal service to fall into foreign ownership for the first time in its 500-year history. The board of parent company International Distributions Services (IDS) is expected to recommend a firm offer from Mr Kretinsky,…
[ad_1] Martin Seidenberg, chief executive of parent company IDS, said: “In the last six months we have set Royal Mail on the right trajectory. We made good progress delivering our modernisation agenda and returned to growth in the second half. “We have improved quality, won back customers lost during industrial action, controlled costs and delivered…
[ad_1] It lost £319m in the first half of the year after losing £1bn the previous year amid crippling strike action. Bosses have put forward proposals to shake up the postal service’s so-called universal service obligation (USO), which requires it to deliver letters six days a week, warning that outdated regulations have left it in…
[ad_1] Ms Vennells joined the Post Office in 2007 as group network director before later progressing to managing director and eventually chief executive in 2012, a role she left in 2019 after handing in her resignation in the latter months of 2018. However, she told the inquiry that she did not realise the Post Office…
[ad_1] Royal Mail disclosed the total number of penalties issued after Labour MP Liam Byrne, who is chairman of the Business and Trade Committee, wrote to the firm’s new chief executive Emma Gilthorpe demanding answers in light of the public concern. However in his response to the Committee, acting chief executive Martin Seidenberg defended the…
[ad_1] She finds love for a third time and refuses to become the King’s mistress, later escaping and setting out on a dangerous and dramatic journey to find her first husband. Originally published from 1957 to 1985, the book series is said to have sold more than 150 million copies worldwide and has been adapted…