Fresh start for Royal Mail: The £5.3 billion deal raising eyebrows
The UK government has approved Czech billionaire Daniel Kretinsky’s £5.3 billion acquisition of Royal Mail’s parent company, IDS, safeguarding universal service obligations while raising public and political concerns over foreign ownership.
Highlights from this story
● Government approves £5.3 billion Royal Mail deal.
● General public remains significantly sceptical about foreign ownership despite government oversight assurances.
● Worker dividends, monthly meetings, and union-backed provisions await shareholder and union approval.
● Concerns persist over Daniel Kretinsky’s business ties, motives, and control of vital UK infrastructure.
T he government has approved Czech billionaire Daniel Kretinsky’s £5.3 billion acquisition of Royal Mail’s parent company, International Distribution Services (IDS). This deal, hailed as a cornerstone for Royal Mail’s future, promises to safeguard its universal service while raising questions about foreign ownership of critical national infrastructure.
A Landmark Deal for Royal Mail’s Future
After months of scrutiny under the National Security and Investment Act, the government has greenlit EP Group’s takeover of IDS. The agreement ensures that Royal Mail’s UK-based headquarters, tax obligations, and corporate structure will remain intact for at least five years. Additionally, the universal service obligation to deliver letters across the UK six days a week at a standard price remains guaranteed indefinitely.
Business Secretary Jonathan Reynolds praised the deal, describing it as a good outcome for customers and the UK. “For too many years, progress on securing a stable future at Royal Mail has stalled,” he said, attributing the agreement to the constructive approach taken by Kretinsky’s EP Group.
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