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02.06.25 - 15:12
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Ex-UK trade minister Greg Hands to advise Czech billionaire Daniel Křetínský (The Guardian)
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Former Tory MP will work with tycoon's EP Group, which bought Royal Mail, in Britain and GermanyBusiness live – latest updatesThe former Conservative trade minister Greg Hands has been appointed as a strategic adviser to a Czech conglomerate best known in the UK for acquiring Royal Mail.EP Group – which also has investments in the energy, media and property sectors – is run by the multibillionaire Czech tycoon Daniel Křetínský, who Hands said he has known for “a long time”. The group received approval for its takeover of Royal Mail in December 2024, after long-running UK government efforts to assess the national security considerations of the deal. Continue reading......
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03.04.25 - 11:54
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Royal Mail takeover deal by Czech billionaire to be finalised this month (The Guardian)
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Daniel Křetínský clears final regulatory hurdles for £3.6bn takeover of Royal Mail parent companyBusiness live – latest updatesThe £3.6bn takeover of Royal Mail's parent company will be completed this month, nearly a year after it was first agreed, as the Czech billionaire Daniel Křetínský cleared the final regulatory hurdles standing in the way.International Distribution Services (IDS), the owner of the 508-year-old Royal Mail, said on Thursday the deal “may become or be declared unconditional” by 30 April, after a delay due to issues in Romania. Continue reading......
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31.01.25 - 07:24
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Ofcom delivers relief for Royal Mail at snail′s pace – too late to stop Czech takeover | Nils Pratley (The Guardian)
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Regulator finally cuts Royal Mail some slack on its service obligations. But what if it had done so sooner?Royal Mail should cut second-class delivery days, says regulator OfcomWhat if Ofcom had cut Royal Mail some slack half a decade ago? What if the universal service obligation (USO), the requirement on the postal operator to deliver nationwide six days a week at a uniform price, had been tweaked before letter volumes fully fell off the cliff?Would Royal Mail's finances have been in better shape? Would Daniel Křetínský, AKA the Czech Sphinx, not have had an opening to make his £3.6bn takeover bid while the share price was on the floor? Or, if he had pounced, would the board of the International Distribution Services(IDS), the parent, have put up a stiffer fight? Continue reading......
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