Mr Kretinsky’s firm EP Group will purchase the postal service’s mother or father firm Worldwide Distribution Providers (IDS).
The £5.3bn takeover deal had been agreed in Could however was topic to a evaluate beneath nationwide safety legal guidelines as Royal Mail is taken into account very important nationwide infrastructure.
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Royal Mail’s headquarters, tax base, and company construction will stay British for 5 years. The common service obligation to ship letters to each handle within the UK, six days per week, at a uniform worth will even stay.
The federal government will retain a “golden share” requiring it to approve main modifications.
Below the deal, staff will obtain a ten% share of any dividends paid out to Mr Kretinsky. A staff’ group might be shaped and meet month-to-month with firm administrators.
This measure requires union approval and ratification and so won’t be introduced on Monday.
It comes after the Royal Mail put ahead proposed shake-up plans to Ofcom as a part of turnaround efforts, together with reducing down on some deliveries.
Who’s Daniel Kretinsky?
The 49-year-old Mr Kretinsky is ranked thirty third on The Sunday Instances Wealthy Listing with an estimated web price of £6bn – up £2bn since 2023.
In 2021 he purchased a 27% stake in West Ham United – a deal price £150m. His EP Group already owned 27.6% of Royal Mail holding firm IDS.
