PREVIEW

Royal Mail Sale to Czech Billionaire Approved by UK Government. The UK Government has reportedly approved the sale of Royal Mail’s parent company to Czech billionaire Daniel Kretinsky. Daniel Kretinsky’s EP Group is set to acquire International Distribution Services, with the official announcement expected on Monday. Kretinsky agreed to several conditions, including a 10% dividend share for workers, to gain government approval A “golden share” ensures the Government must approve any significant changes to Royal Mail’s ownership, headquarters, or tax residency. Kretinsky has committed not to access Royal Mail’s pension surplus as part of the agreement. The new owner guarantees to maintain Royal Mail’s universal service obligation for the next five years. Royal Mail’s name, UK headquarters, and tax residency will remain unchanged for at least five years under the deal. A key feature of the takeover is the 10% dividend share for employees, reflecting Kretinsky’s concessions to secure the deal.
Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT