Czech Billionaire Buys Royal Mail: Fears of Privatisation Disaster
The UK government approved the £5.3 billion sale of International Distribution Services (IDS), Royal Mail’s parent company, to Daniel Kretinsky’s EP Group. This acquisition, subject to a national security review due to Royal Mail’s vital infrastructure status, includes legally binding agreements to maintain UK-based operations, the universal service obligation, and a government “golden share.” A key aspect of the deal provides Royal Mail employees with 10% of dividends and establishes a workers’ group to engage with company leadership. The deal is expected to finalize in the first three months of 2025 pending shareholder approval.
John Q. Hosedrinker