Royal Mail takeover by Czech billionaire approved

Published On Dec 15, 2024, 4:45 PM

The UK government has approved the £3.6 billion acquisition of Royal Mail's parent company by Czech billionaire Daniel Kretinsky, amid plans for significant operational commitments. Kretinsky will maintain service standards and brand identity, and has promised no compulsory redundancies until 2025. Despite recent losses and public trust issues, Kretinsky aims to invest in improving delivery efficiency and leveraging growth in parcel services. However, Royal Mail's performance has been declining, with customer complaints and regulatory fines indicating operational challenges ahead.