Czech Billionaire Secures £3.6 Billion Takeover of Royal Mail
The UK government approved Daniel Kretinsky's acquisition with safeguards to protect Royal Mail’s identity and services.
- The UK government granted a 'golden share' to ensure Royal Mail’s headquarters, tax base, and national identity remain in the UK.
- The £3.6 billion deal includes legally binding commitments to maintain the universal service obligation and delivery standards indefinitely.
- Daniel Kretinsky’s EP Group reached agreements with unions, including no compulsory redundancies and a share of future dividends for employees.
- Concerns about Kretinsky’s business ties to Russia and potential asset restructuring were addressed through additional safeguards in the agreement.
- The acquisition marks the first foreign ownership of Royal Mail in its 508-year history, with plans to modernize operations and expand parcel services.
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