Royal Mail: Czech billionaire set to clinch takeover deal

Published On Nov 27, 2024, 7:02 PM

The sale of Royal Mail to Czech billionaire Daniel Kretinsky's EP Group is nearing completion, with an announcement expected soon. Kretinsky has made concessions to secure the deal, including commitments to maintain the universal service, preserve jobs, and keep Royal Mail's branding and headquarters in the UK for five years. The deal, worth £3.6 billion, has received backing from the board of the parent company, International Distribution Services (IDS). Despite ongoing operational challenges, including declining letter volumes and pressure on profits, Kretinsky is seen as a viable owner following previous reviews of his business background. The UK government has indicated that the guarantees offered by Kretinsky are enough to support his acquisition of this key organization.