The new Labour government is set to look closely at the £5.3bn takeover of Royal Mail-owner International Distribution Services by Czech billionaire Daniel Kretinsky. Business secretary Jonathan Reynolds said it would be “reasonable to expect [the deal] to be called in”, as ministers had intervened when Kretinsky increased his stake …
Read More »By Yadarisa Shabong May 29 (Reuters) – The owner of Britain’s Royal Mail has agreed to a 3.57 billion pound ($4.55 billion) takeover by Czech billionaire Daniel Kretinsky, it said on Wednesday, in a take-private deal of one of the world’s oldest postal firms. The offer valued International Distributions Services …
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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 …
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Royal Mail owner International Distribution Services said on Thursday that it has had to delay the publication of its full-year results – which were originally due on Thursday morning – after auditor KPMG requested additional time to complete procedures. “The group’s auditor, KPMG, has requested additional time to complete the …
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The takeover of Royal Mail by billionaire Daniel Kretinsky’s private equity firm EP Group moved a step closer Friday, with Chancellor Jeremy Hunt appearing to welcome a £3.5 billion buyout of Royal Mail shareholders. EP Group’s takeover bid marks a new stage in the wrecking operation against Royal Mail since …
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The Czech billionaire argues his offer for Atos will provide quick capital and a robust direction for the company. ADVERTISEMENT French tech company Atos, the official tech partner of the 2024 Paris summer Olympics, has seen considerable takeover interest from Czech billionaire Daniel Kretinsky, also known as the “Czech Sphinx”. …
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In a statement EP Group said it “recognises that Royal Mail is in a challenging situation. Weak financial performance, poor service delivery and a slow transformation, in the face of a market going through structural change, have put the business under unsustainable pressure. With the increasing competition from multinational companies …
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Open this photo in gallery: Conservative Leader Pierre Poilievre rises during Question Period in the House of Commons on Parliament Hill in Ottawa on Oct. 19. The Competition Bureau greenlit RBC’s takeover of HSBC Canada in September.Justin Tang/The Canadian Press Conservative Leader Pierre Poilievre is calling for the federal government …
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Mike Ashley’s Frasers Group was in the red, having rallied a day earlier after lifting its full-year profit guidance and reporting higher half-year profits, driven by strong sales online and at stores as they reopened after the Covid-19 lockdown. Vistry was under the cosh, along with the rest of the …
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